News

Despite international efforts that have suppressed some attacks on Gulf of Aden shipping, the piracy problem is escalating--driving a tenfold increase in vessel insurance rates--one maritime expert observed.

At this week's annual RIMS conference, Bill Perry, the source of our cover story and president of Logic Associates--the top placement firm for risk managers--will be at the National Underwriter exhibit booth (1011) on Monday morning, April 20.

Wells Fargo Insurance Services Inc., has acquired the assets of North Coast Surety Insurance Services and North Coast Surety Technologies. Transaction terms were not released.

Vermont Captive Insurance Association President Molly Lambert will be leaving VCIA to take a post as state director for rural development for Vermont and New Hampshire at the U.S. Department of Agriculture.

Newark, Calif.-based catastrophe modeler Risk Management Solutions said last year's severe weather season can be expected to occur every four-to-five years.

The International Insurance Society Inc. in New York announced that Michael J. Morrissey has been named its new president and chief executive officer.