Endurance Specialty Holdings says it has acquired the assets of Galileo Weather Risk Management to form a new unit offering a suite of customized weather risk management products to help clients manage the impact of weather variability on their businesses.

The National Association of Insurance Commissioners announced late Friday that its CEO, Therese M. (Terri) Vaughan, would be leaving earlier than expected, on Nov. 30 rather than in 2013's first quarter, and that Andrew Beal would become acting CEO until a leader is hired.

The National Association of Insurance Commissioners announced late Friday that its CEO, Therese M. (Terri) Vaughan, would be leaving earlier than expected, on Nov. 30 rather than in 2013's first quarter, and that Andrew Beal would become acting CEO until a leader is hired.

Europe's insurers may get a single supervisor, mirroring a plan to centralize banking regulation under the European Central Bank, the head of the EU's insurance rule-making body said on Tuesday.

Europe's insurers may get a single supervisor, mirroring a plan to centralize banking regulation under the European Central Bank, the head of the EU's insurance rule-making body said on Tuesday.

XL Group CEO Michael S. McGavick believes that Superstorm Sandy will not be a capital event for the insurance industry, but he does think it will change the industrys perception of risk in the Northeast.

Tower Group expects an after-tax net loss of between $55 million and $68 million next quarter due to Superstorm Sandy, while Fitch Ratings says insurers can easily handle the lossesand then some.

Hiring the right third-party administrator (TPA) to handle an organizations claims, and then working with the vendor in a productive partnership, are two of the most critical responsibilities many risk managers face.