The company has called this a positive step forward “for a strong and vibrant future”. Mercury General Corporation (NYSE stock symbol MCY) recently announced that it has named Victor Joseph as its Executive Vice President and Chief Operating Officer (EVP & COO). The position was newly created, and Joseph will become the first to hold the title. Joseph will take this new position at Mercury General Corporation as of the start of next year. He was chosen to start with this newly created title on January 1, 2022, as an…
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Insurance news about Nationwide’s management of the security breach is covered up
The massive insurer’s lawyers are being used to protect the details of the occurrence last October. Nationwide is currently doing its best to try to keep its insurance news as small as possible, regarding the investigations into the security breach that occurred last October, which exposed the information of 1.1 million Americans. The insurer is taking considerable efforts, through the use of a law firm, to protect the secrecy of the issue. Both state and federal investigators are currently looking into this insurance news, in order to better understand precisely…
Read MoreInsurance news released to Madoff victims with claims
An appeals court has ruled that filings can be made for actual losses that were suffered. A New York state appeals court has made insurance news by ruling on the case regarding the types of claims that can be made by the victims of Bernard Madoff’s Ponzi scheme that bilked millions of dollars from those involved. The ruling allows the victims to make claims based on the actual losses that they suffered. This means that while the insurance news is good, in that they can make some claims, they will…
Read MoreAllstate makes a return to Massachusetts after 25 year absence
Allstate returns to Massachusetts as regulations grow lax Allstate Insurance has announced that it is opening its first office in Massachusetts in over 25 years. The insurer had abandoned the state a quarter century ago due to its strict regulations concerning auto insurance rates. These regulations have seemed to be relaxed, however, creating an opportunity for Allstate to make its return. The insurer will be offering up auto insurance policies in the state by the end of the year. Auto insurance regulations drove away Allstate in the past The last…
Read MoreSevere weather leads to over $1.2 billion in insurance losses in March
Insurance industry gets hit with huge losses for 2012. Global reinsurance intermediary, Aon Benfield, which is also responsible for the Aon plc capital advising, has released its most recent Global Catastrophe report edition, which provided an overview of the global natural disaster events of March 2012. The report was published by the catastrophe model development center of excellence for the company, Impact Forecasting. It showed that a number of serious weather events struck the Tennessee Valley, the American Midwest, and the Southeast of the country during the first week of…
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