People & Places

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Philadelphia Insurance Co. announced Tuesday that BobMorgan and Seth Hall, two former vicepresidents, have been promoted to senior vice president ofunderwriting and customer service, respectively.

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Crawford & Company, based out of Atlanta,Ga., has appointed Vince Cole, formerexecutive vice president of global strategy and businessperformance, to executive vice president and CEO of the company.Before working for Crawford, Cole had been CEO of a medical devicecompany in Raleigh, North Carolina.

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Non-profit insurance education leader, inVEST, announced that CynthiaHower, president of Kellerman Insurance based out ofHolton, Kan., would be named to the company's national board. Howerhas more than 30 years' experience in the insurance industry,dating back to 1981 when she started working with her father in thefamily insurance business.

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New Programs

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On Monday, ACE Group introduced three new transactional risk insurance productsthat protect companies during mergers and acquisitions bothnationally and in the international marketplace. Current VicePresident of Transactional Risk Edward Markovitchwill lead the initiative.

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News

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Seventy-six companies, including almost a third of them beinginsurance companies, might expect to see a fee based on the amountof liabilities they have on their balance sheets. This is all dueto President Barack Obama's newest tax proposal, according toSNL Financial, that released a study showing off all the differentfinancial institutions that could be affected by the latest budgetproposal released on Monday.

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M&A

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United Insurance Holdings Corp. (UPC) completed their acquisition of FamilySecurity Holdings, LLC (FSH) yesterday, including all ofFSH's subsidiaries. The merger cost UPC $9 million and issued overhalf a million shares of their stock. FSH also owned a propertycasualty company based out of Hawaii and an underwriting companythat performed administrative and marketing services for thecompany.

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