Monthly Archives: March 2013

Four Insurers Agree To Pay Refunds To Massachusetts Customers Over Surcharge Appeals

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Four auto insurers have agreed to settle allegations that they failed to refund at-fault surcharges to Massachusetts customers, resulting in higher premiums — after a customer has been in a crash, for example — when a state appeals process sided with the customer, Attorney General Martha Coakley’s office said Thursday.

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Early Hurricane Forecast: 2013 Could Bring 2 To 4 ‘Major’ Storms

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The Atlantic Ocean could produce more “major” hurricanes this year than it did in 2012, according to a company that provides weather forecasts for corporate clients.

In an early hurricane forecast released Thursday, ImpactWeather Inc. predicted that 2013 will see two to four major hurricanes, which the company defines as category 3 or greater, meaning sustained winds of at least 111 mph.

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David Lee Roth: Lloyd’s of London Once Insured His “Little Elvis”

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The lead singer of Van Halen, David Lee Roth, told HuffPost Live that his penis, which he calls “Little Elvis,” was once insured by Lloyd’s of London.

“Somebody said, ‘Well, we’ll have to insure Edward’s [Guitarist Eddie Van Halen’s] fingers because he’s gonna be using those a lot on the road, and Alex Van Halen’s elbows,” Roth told HuffPost Live. “You know, when a drummers use their elbows a lot we’re gonna have to insure those elbows because he’s gonna be using those a lot. And I said, ‘What about Little Elvis? We’re gonna be using him a lot.’”

Roth likened Lloyd’s of London to a “bookie joint” in which people bid on insuring risks such as Luciano Pavarotti’s voice, or Eddie Van Halen’s left hand.

Travelers CEO Jay Fishman’s Compensation Up 37 Percent Last Year To $29.9 Million

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The Travelers Cos. Chairman and CEO Jay S. Fishman was compensated a total of $29.9 million last year, a 37 percent increase over the year before, according to documents filed Thursday with the U.S. Securities and Exchange Commission.

In 2011, Fishman’s pay package totaled $21.9 million, not including stock-and-option awards which have a future value, and also not including growth in his pension fund.

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Cigna CEO’s Compensation Last Year: $3.9 Million, Not Including $9 Million In Stock, Stock Options

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Cigna Corp. CEO David M. Cordani had a 68 percent decline in pay last year with compensation totaling $3.97 million, not including $9 million in stock and stock options which have value in the future when the stocks vest and options are exercised, according to a filing Friday with the U.S. Securities and Exchange Commission. 

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Insurer Becomes Latest In ‘Next Five’ Program, Moving Headquarters To Stamford

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A specialty property-casualty insurer is moving its headquarters to Stamford from Rye Brook, N.Y., and adding 200 jobs in exchange for up to $11.5 million in state assistance, Gov. Dannel P. Malloy announced Friday.

The Navigators Group, Inc. is taking part in Malloy’s Next Five program. The company will receive assistance for the $25 million move in return for adding 200 jobs in the state over the next five years, according to Malloy’s office.

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Northwestern Mutual To Bolster Sales Force

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Northwestern Mutual Life Insurance Co. is planning to add a number of financial representatives in Connecticut who will be independent contractors working for commissions.

The life insurer will add 24 full-time people and 30 interns in West Hartford as part of a nationwide effort to bolster the company’s commission-based sales force by 5,500 this year across the U.S.

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