The chairman of Flagstone Reinsurance Holdings expects the board of IPC Holdings to decide by tomorrow whether it will endorse Flagstone's offer to acquire IPC in a deal valued at $1.8 billion.
As employers and their insurers grapple with increased numbers of employment practices liability claims in a recessionary economy, they are also facing emerging exposures associated with a changed political landscape.
Large groups of private educational institutions, hospitals, hotel chains and even officials of Major League Baseball can buy insurance for income losses and extra expenses incurred during a pandemic.
At a time when charges of age discrimination are soaring, the U.S. Supreme Court seemed to give a break to employers and their employment practices liability insurers this month.
While true merger and acquisition activity in the property and casualty insurance industry isn't occurring at the pace of prior soft markets, a form of consolidation is occurring as concerned agents and brokers move business to safer havens.
At a time when charges of age discrimination are soaring, the Supreme Court ruled that a worker has the burden to prove age was a key factor in a negative employment decision.
Shareholders of IPC Holdings voted down a proposal to merge with Max Capital Friday, but rival bidder Validus, wary of potential responses from IPC's board, said it will look to replace that board if there's no deal soon.
The only real way to test the effectiveness of an organization's enterprise risk management system is with real-life disasters, and on that score, property-casualty insurers passed with flying colors in 2008, according to analysts.
Bermuda companies Max Capital and Validus Holdings are continuing a public fight to Friday's finish date over which firm will merge with property-catastrophe reinsurer IPC Re.