Operations/tech
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Issues with faked letters of credit are not limited to one banking provider, sources said. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The firm said it had identified two specific transactions in which “collateral inconsistencies” were in question.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The layoffs will be effective at the end of September.
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CNA said in a filing with the SEC that the $1.8mn will be paid in two installments, in addition to certain health and welfare benefits.
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The exercise is no longer focused around crunching wholesale broking relationships down to a small preferred panel.
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The platform will connect MGAs with capacity from a wide range of providers.
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Branch faces the same issues as others in personal lines, as it tries to gain control of loss ratios and achieve rate adequacy.
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Right now firms pursuing this strategy are winning, although there are some potential slow-burn issues to watch.
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Guy Carpenter was the sole placing broker sourcing capacity for the tie-up.
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Proxy advisers had called for shareholders to reject the pay deals, which feature a $50mn pay award for CEO Peter Zaffino.
