Catastrophe modelers have spent a lot of time analyzing the Northeast for windstorm risk, but Superstorm Sandy revealed numerous failings in the programs, resulting in significant losses for some insurers, says Fitch Ratings.
After 12 years at the helm, Joe Plumeri is stepping down as the CEO of Willis Group Holdings on Jan. 7. He will serve as nonexecutive chairman through July 13, when his contract expires.
Its not retirement, says Joe Plumeri, the chief executive officer of Willis Group Holdings, but just another phase in his long career as he reflects on his 12 years in the insurance brokerage business.