ACP Re, Tower Group to Merge | Insurers Seek HO Rate Hikes in N.C., Texas

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January 6, 2014 PropertyCasualty360.com
First Notice Tower Group to Merge with ACP Re in $172.1M Deal; Renewal Rights Sold By Phil Gusman, PropertyCasualty360.com ACP Re Ltd. will acquire 100% of the outstanding stock of Tower Group International and merge Tower with a subsidiary. AmTrust will acquire the renewal rights of Tower Group's commercial lines insurance operations, and National General Holdings Corp. will acquire the personal lines renewal rights.…Read more Slideshow Top 6 Trends for the Oil and Gas Industry By Hannah Bender, PropertyCasualty360.com Booz Allen Hamilton report reveals that cyber risk management is one of the largest issues gas and oil companies face…Read more Industry News Top 3 Homeowners Insurers in Texas Seek Rate Hikes for 2014 By Staff Writer The top three homeowners insurers in Texas are seeking to raise rates—one by up to 15%—in 2014, the Dallas Morning News reports, but the state's public insurance counselor tells PC360 she will challenge the requests.…Read more Insurers' 25% HO Rate Increase Request in N.C. Draws Rebuke from Commissioner By Phil Gusman, PropertyCasualty360.com Insurers in North Carolina submitted a rate filing for a statewide average increase in homeowners rates of 25.3%, a request that drew an angry response from the state's insurance commissioner.…Read more MMC Director Zachary Carter Resigns from Board to Become NYC Corporation Counsel By Phil Gusman, PropertyCasualty360.com Zachary W. Carter, a member of Marsh & McLennan Companies' board of directors since 2004, will resign effective Jan. 17 after New York City Mayor Bill de Blasio named Carter to become the city's corporation counsel, according to an SEC filing.…Read more Get in-depth coverage of specialty lines of insurance on PropertyCasualty360.com's Featured Lines pages. Get the info you need today! Self-Driving Cars to Take the Wheel by 2030? By Anya Khalamayzer, PropertyCasualty360 Fully autonomous self-driving cars will completely take over roadways before mid-century, predicts data analyst IHS Automotive, creating complex questions about accident liability and safety risk management to auto insurers and brokers.…Read more 10 Cornerstones of Effective Mediation Advocacy - Part 1 By A. Michelle Jernigan, Bruce A. Blitman, Esq. It is imperative that an insurer retain a knowledgeable mediator to resolve disputes. A skilled attorney will be prepared every step of the process to optimize the outcome.…Read more K2: Will NY Court of Appeals Reaffirm Coverage By Estoppel? By Melissa F. Brill If the New York Court of Appeals upholds its recent "coverage by estoppel" decision on reargument tomorrow, then it may change how claims professionals handle duty-to-defend matters in the state.…Read more New Schools to Open in Joplin, Mo., After Tornado By Kevin Murphy, Reuters Three new schools will open in Joplin, Missouri, this week, the latest step in the town's recovery from a devastating 2011 tornado that killed 161 people and destroyed 8,000 buildings.…Read more Around the Industry By Staff Writer News from AmWINS, Willis, Glatfelter Insurance, SterlingRisk, Marsh Inc. and Brown & Brown Inc.…Read more Perspective FIO Still Trying to Advance Federal Agenda By Ted Besesparis FIO's report is contrary to Congress' determination that the states are the regulators of the business of insurance, not the federal governmentRead more Editors' Picks J.P. Morgan Settles Another Force-Placed Lawsuit for $22.1M The Iroquois Theater Fire: Stage Set for Disaster The Sleeping Giants: Notable Absences in 2013 U.S. Cat Season Snowden Leaks Driving Security Changes at Cloud Providers Federal Officials to Consider Mandatory Tech Alerting Drivers of Imminent Accidents Years ago movie theaters were cited by underwriters as a terrible risk. The curtains were flammable, the film could catch fire if the projector locked up and stayed on one frame, the patrons were allowed to smoke cigarettes and the exits were limited. Today it's not such a bad risk in the scheme of things, since the curtains are fireproof, the projectors are going digital, no smoking is allowed and exits are adequate and clearly marked. — SanLouisKid, The Iroquois Theater Fire: Stage Set for Disaster Subscribe to our eNewsletters Get the best of PropertyCasualty360.com, from market trends and news to the analysis you need – it's the information you need to solve your biggest business problems…so you can sleep at night. Check out PropertyCasualty360.com eNewsletters!
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07 Jan, 2014

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