People & Places
BMS hires new executive VP: Mike Hollenbach will join BMS's expanding specialty casualty team as executive vice president for the independent broker. Prior, Hollenbach worked for Towers Watson as a senior account executive. He will be based from Philadelphia for BMS.
Hughes/NAPSLO names new board member: The Derek Hughes/National Assn. of Professional Surplus Lines Offices Educational Foundation added Brady R. Kelly to its board of directors. The foundation namely supports the study of the excess and surplus lines business. Kelly is also executive director of NAPSLO.
Zurich chooses chief underwriting officer: Zurich North America, a part of Zurich Financial Services Group, announced Sabrina Hart as chief underwriting officer for Global Corporate in North America. Hart replaces current chief underwriting officer Paul Horgan. Prior, Hart served as chief operating officer for Zurich's Global Corporate in North America.
Grinnell Mutual promotes new president and CEO: The Iowan Grinnell Mutual Reinsurance Co. has named Larry Jansen as its newest president and CEO. Jansen was promoted from the position senior vice president of direct underwriting and production, after working there for 10 years.
Hanleigh hires 3: Hanleigh, a Crump Insurance Services Co. and division of Crump Group, has hired Rick Fitzke, Eric Olivio and Carla Trolio. Fitzke and Olivio join as directors of sales, and Trolio joins as senior underwriter.
Willis appoints CEO: Global insurance broker Willis North America, a unit of Willis Group Holdings, announced Jim Blaney as its new CEO, Willis North America Human Capital Practice, effective immediately. Blaney has served as president of Willis North America Human Capital Practice since Oct. 2011. He will replace Mike Barton.
Insureon also appoints CEO: Online insurance agent, Insureon, announced its new CEO as Ted Devine, effective immediately. Insureon sells insurance directly to small businesses through its TechInsurance and Business Insurance Now brands. Devine will be based out of the company's Chicago office. Prior, he was senior executive at Aon Corporation.
Rosenfeld Einstein hires 1: South Carolina-based insurance agency, brokerage and consulting firm Rosenfeld Einstein added Betsy J. Migdal to its employee benefits team. At RE, Migdal will focus on client service and plan administration and development for clients of the firm's employee benefits division. Migdal joins RE after more than10 years with JP Morgan Chase and ABN AMRO.
Read on for M&A activity and new programs.
Mergers & Acquisitions
C&S announces Colonial merger: New England agency Cavallo & Signoriello Insurance will acquire Colonial Insurance Services, of Mansfield, Mass. The merged company will be under the C&S Insurance umbrella as the area's largest and oldest agency.
New Programs
AIG offers product packaging, up to 5 voluntary plans: AIG Benefit Solutions, a business unit of American International Group, has launched a new ProtectPak(SM) series, available in three options. ProtectPak 3, 4 and 5 offer critical illness insurance; critical illness and short-term disability; and critical illness, short-term disability and vision insurance, respectively. All three packages are bundled with term life and accident insurance, they are also offered in low, mid or high level protection.
EMC announces new data coverage: EMC Insurance Cos. launched a new data compromise and identity recovery product, designed to help small and midsized businesses respond to data breaches. The program offers identity recovery for key individuals within the insured organization, cost mitigations for notification and potential legal action, reputational risk-management services, and first- and third-party coverage.
Marsh announces RCO Corporate Response coverage: Marsh and Allied World Assurance Co. will launch a new form of coverage to assist life science, pharmaceutical, and health care companies in managing the risk of their corporate officers being pursued for violations under the Responsible Corporate Officer doctrine. RCO Corporate Response will cover the costs associated with RCO investigations and related enforcement actions.
News
Oracle launches new app for Solvency II: Hardware and software engineering company Oracle announced its new Oracle Insurance Applications for Risk and Solvency II Compliance as a part of the Oracle Financial Services Analytical Applications suite of products. The program should help insurers achieve compliance with Solvency II requirements across Pillars I, II and III.
Crump sells to BB&T: Crump Group announced that its life insurance and property casualty insurance divisions will be sold to BB&T, as will the rights to the Crump name. The combination will create one of the largest global insurance providers. The company's retirement services division, Ascensus, will not be sold though.
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