Maryland officials will appeal a federal government's decision to deny millions of dollars in disaster aid sought by the state, following the Freddie Gray riots in Baltimore that left the state with excessive repair costs. Doug Mayer, a spokesman for Gov. Larry Hogan said in a letter to the Federal Emergency Management Agency (FEMA), that the governor's office “will be pushing to have the decision reversed.” FEMA's decision, which claims that the aid was “not appropriate” for rioting events, is under review by the Hogan Administration. If granted, the FEMA aid would cover 75% of eligible costs for state and city public agencies.

American International Group, Inc. (AIG) is making it possible for students in 19 global cities to acquire valuable skills in entrepreneurship, financial literacy and work readiness through a generous grant of $425,000 to implement Junior Achievement USA^®(JA) programs. Students from kindergarten through 12th grade will benefit from JA programming during the 2015–2016 school year. The initiative will enable students to learn important skills, including creating a budget, becoming work-ready and developing a business plan. AIG employees will serve as JA classroom volunteers and board members, while supporting other special events.

Leavitt Group's Las Vegas office was recently awarded an “Agency Excellence Award” at the group's annual conference. Wade Leavitt, local managing co-owner of Leavitt Insurance Agency, who accepted the award with co-owner Dave Johnson, was also recognized for his 30-year service with the company.

Erie Indemnity Company, a member of Erie Insurance Group, will host an audio webcast with the financial community on Friday, July 31, at 10 a.m. ET. The webcast is to discuss results of the second fiscal quarter for 2015. The live webcast will air via the company's Investor Relations website and will be placed in the archive after 1:30 p.m. ET.

Fosun International Limited and Meadowbrook Insurance Group, Inc. announced on Tuesday, July 7 the completion of Fosun's acquisition of Meadowbrook. The transaction was completed following confirmation of Meadowbrook shareholder approval along with all necessary regulatory approvals.

The Chinese automobile insurance market will benefit from a USD $5 million investment from Solera Holdings, Inc. The country's first Solera Technology Center (STC) research facility will be created to advance the rapidly growing Chinese automobile insurance industry. A joint venture created in 2011 between Solera and a leading global insurer MAPFRE, STC seeks to modernize the insurance ecosystems of growing and emerging countries worldwide with data-based science, predictive software, and technology-focused education and training for the P&C industry.

More than four years after Christchurch was hit with a 6.3 magnitude earthquake, the second-largest city in New Zealand still has visible widespread damages. The aftermath of the disaster that killed 185 people on February 22, 2011, now has residents questioning the recovery of the city. It was the second major earthquake to hit Christchurch within a period of a few months, and although the first was far deeper, there were no fatalities. There were 13,000 aftershocks that followed the second earthquake, which occurred at midday when shoppers and tourists filled the streets, damaging more than 100,000 houses and rendering more than 11,500 uninhabitable. Approximately 90% of Christchurch residents had insurance coverage but settlement negotiations between insurers and property owners have delayed the recovery process.

Special Reports /

Around the Industry: July 13, 2015

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