Subject Root Tag

Washington – A bill that would provide $100 million in grants to help local officials enforce building codes has been introduced into the House. Rep. Dennis Moore, D-Kan., sponsored the legislation, which is dubbed The Community Building Code Administration Grant Act of 2007.

Burlington , Mass. - StreamServe Inc., a provider of document processing and dynamic enterprise publishing solutions, released StreamServe Financial Services, an application designed for use with the SAP for insurance solution portfolio.

Warren, N.J. - The Chubb Group of Insurance Cos. is rewarding policy holders who are proving a "healthier" security posture by putting together a premium discount program for its cyber insurance product: CyberSecurity by Chubb.

Orlando - For the second consecutive year, Cognizant, a Teaneck, N.J., provider of global IT and business process outsourcing services, received Pegasystems' exclusive "Systems Integrator of the Year."

New York - Lightyear Capital LLC, a New York-based private equity firm focused on financial services investing, completed the transactions related to the establishment of Antares Holdings Ltd., a Bermuda-based holding company whose businesses will include the sponsorship of a new Lloyd's of London syndicate ("Antares Syndicate 1274").

Atlanta - Connecture Inc., provider of Web-based sales, service and process automation solutions to the health insurance industry, has been awarded the Robinson College of Business (RCB) Eagle Award. The business school selected Connecture as a high achiever among fastest growing private companies in the Southeast.

Simsbury, Conn., and Powell, Ohio - In a move designed to offer defined benefit plan sponsors the latest in Internet functionality, The Hartford Financial Services Group Inc. has agreed to acquire TopNoggin, a Powell, Ohio-based firm with proprietary technology that tackles data management, administration and benefit calculations.

Approaches to policy administration systems may differ from region to region, but the factors driving replacement are similar.

Customer service, risk management and demographics will mark 2008.

Zurich — Zurich Financial Services Group announced that it is elevating the role of Chief Risk Officer to Group Executive Committee status, and appointing Axel Lehmann to the position, effective Jan. 1, 2008. Also on that date, Mike Foley will succeed Lehmann as CEO of Zurich’s North America Commercial (NAC) division, and will become a member of the Group Executive Committee.

New York — Execution is taking precedence over profit and top-line growth as a focus for CEOs around the world, according to a survey of 769 global CEOs from 40 countries from The Conference Board report, CEO Challenge 2007: Top 10 Challenges. The annual report, conducted during the first quarter of 2007, details specific challenges that CEOs face across regions, as well as by the company’s size, industry, and level of success—all factors affecting the concerns of CEOs.

Regulators advise the public to become aware of ID theft vulnerabilities, while carriers are using technology and third-party help to thwart the bad guys and bolster customer services levels.

Trenton, N.J.– A bill that will eliminate the requirements for auto insurance agents to provide quotes for all their companies and to provide three insurance scenarios to applicants has passed the New Jersey Legislature.

Minneapolis — Wolters Kluwer Financial Services named Mark Coronna executive VP of its Securities Compliance and Insurance groups. In this new role, Coronna will be responsible for the company's overall growth in its securities and insurance businesses, which have operational centers in New York City, Waltham, Mass. and Riverwoods, Ill.

Canton, Mass. — OneBeacon Insurance Group announced the appointment of Terry Thompson as senior VP and chief underwriting officer of the company's U.S. operations. Reporting to CEO Mike Miller, Thompson will be responsible for key underwriting matters across the company, including underwriting guidelines, catastrophe management, corporate insurance and reinsurance and the consideration of new business opportunities.

Atlanta — Crawford & Co. named Brian Flynn senior VP and global CIO.

Cincinnatti — American Financial Group Inc., which sells property/casualty insurance, agreed to purchase Strategic Comp Holdings LLC for an undisclosed sum.

Boston–Lexington Insurance Co. enhanced its Employment Practices Liability (EPL) insurance offerings to include E-Discovery Response, a new endorsement designed to cover an insured’s payroll expenses incurred while retrieving electronically stored information requested during discovery in a covered EPL claim.

As mortgage lenders struggle to contend with the double-barreled threat of rising defaults and lower origination volume, a third, less discussed source of risk is now starting to emerge.

Schaumburg, Ill. – Zurich named Greg Maguire as director of customer and distribution management for Zurich’s Global Corporate in North America unit, effective Jan. 1, 2008.