Workers' compensation

Marsh’s Doyle warns of pricing “domino effect” from Tripra non-renewal

At a US House Financial Services hearing, Marsh president and CEO John Doyle has urged reauthorisation of the federal terrorism risk insurance programme and warned that insurance availability will fall as the deadline looms.

Applied Underwriters CEO seals Berkshire buyout in $920mn deal

Applied Underwriters founding CEO Steve Menzies has completed a transaction to buy the workers compensation specialist’s core insurance subsidiaries from Berkshire Hathaway in a move first revealed by The Insurer.

CopperPoint buys Alaska National

US regional commercial insurer CopperPoint Insurance Companies has agreed a deal to acquire Alaska National, following this publication in May revealing the Anchorage-based insurer was evaluating a sale.

CEO Menzies is buyer of Applied Underwriters’ insurance operations

Applied Underwriters co-founding CEO Steven Menzies has emerged as the buyer of the workers compensation specialist’s core insurance subsidiaries currently majority-owned by Berkshire Hathaway.

XPT’s WSS launches workers comp unit with two hires

XPT Group subsidiary Western Security Surplus (WSS) has launched a workers compensation division with the hires of Dan Rieden and Matt Rieden.

New York fines Berkshire’s Applied Underwriters $3mn for overcharging

Applied Underwriters has said it is pleased with a settlement under which New York’s Department of Financial Services (DFS) found the Berkshire Hathaway subsidiary overcharged many small and medium-sized employers for unapproved workers compensation products that violated New York law.

Regulators review Applied Underwriters transaction

Regulators are reviewing the potential sale of Berkshire Hathaway’s majority investment in Applied Underwriters but, contrary to reports today, the proposed transaction does not involve a full acquisition of the stake in the workers compensation specialist by United Insurance Company (UIC), The Insurer understands.

NA casualty chief Holtmeier to leave JLT Re

Gregg Holtmeier, who was North American casualty team leader at JLT Re, is set to leave the firm as its operations are integrated with Guy Carpenter, The Insurer can reveal.

Alaska National appoints Macquarie for potential sale

Workers compensation-focused US regional carrier Alaska National is working with investment bank Macquarie to evaluate options that could include a potential sale, The Insurer can reveal.