Best Affirms Russian Re’s ‘B+’ Ratings; Outlook Stable

believes that Russian Re’s risk-adjusted capitalization is excellent, supported by the retention of earnings and low investment risks. Following the Russian Federation’s new legislative requirements, Russian Re increased its share capital from RUB 120 million

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HCC Global Financial Products to Offer Kidnap & Ransom Insurance

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HCC Global Financial Products, a provider of Financial Lines Insurance since 1999, announced the launch of an international HCC branded Kidnap and Ransom (K&R) Insurance product in conjunction with HCC Specialty, which has been providing K&R insurance since 1980. HCC Global and HCC Specialty are affiliated businesses owned by HCC Insurance Holdings, Inc.

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Associated Agencies Names Herz President and Schrayer CEO

November 28, 2012Email ThisPrintNewslettersTweetArticleComments

Associated Agencies Inc., based in Rolling Meadows, Ill., has promoted 35-year-old Joshua Herz to president, making him the fourth person in the same family to hold the position.

Herz succeeds his cousin, Max (Skip) R. Schrayer, who was recently named chief executive officer. As president, Herz will maintain his current client base and actively mentor new salespeople within the company. As CEO, Schrayer will continue to maintain his own client base and oversee operations.

Since joining Associated Agencies as an account producer in 2003, Herz has moved into top management, earning the title of vice president in 2009. Currently, he sits on the executive boards of Associated Agencies and one of its affiliates, Auto and Home Insurance Agency.

Prior to joining Associated Agencies, Herz worked at General Electric for four years. At GE, Herz became a Six Sigma blackbelt and was handpicked for Jeff Imelt’s elite Commercial Leadership Program. Herz lives in Highland Park, Ill. with his wife and three children.

Schrayer began his career at Associated Agencies, Inc. as a part-time employee in 1974, moving to full-time in 1982. A producer of large accounts, Schrayer manages the largest book of business in the office. He also serves as sales manager and as a member of the board of directors. As president of Associated Agencies Inc. and Auto and Home Insurance Agency Inc., he oversaw all aspects of commercial and personal insurance for individuals as well as businesses of all sizes, both for-profit and not-for-profit nationwide.

Schrayer remains president of Auto and Home Insurance Agency in Downers Grove, Ill.

Source: Associated Agencies Inc.

 

 

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Kreidler’s 4th Term in Washington: Healthcare, Climate Change, Excess Surpluses

November 8, 2012Email ThisPrintNewslettersTweetArticleComments

Washington Insurance Commissioner Mike Kreidler won nearly six in 10 votes in his re-election bid, giving him bragging rights as the U.S.’s longest currently serving insurance commissioner.

Kreidler won 57.7 percent of the vote, while insurance broker John Adams, his Republican challenger, garnered 42.3 percent of the votes.

The Democrat now entering his fourth term said that over the next four years Washington’s insurance community and its consumers can expect his top priorities to include implementing the Affordable Care Act, tackling climate change and doing battle with not-for-profit health insurers that he says have built up excessive surpluses.

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