A survey of more than 3,000 U.S. employers reports that 54 percent are paying at least 5 percent more for employee medical insurance this year, with nearly one in four suffering from increases of at least 10 percent. Yet a decisive 67 percent agree that medical and pharmacy benefits are the cornerstone of their employee benefits package, and therefore an important tool to recruit and retain talent in a tightening labor market.
Hurricane Earl has been ungraded to a Category 1 Hurricane and is moving closer to the coasts of Mexico and Belize. Rainfall up to 12” is expected with 4 to 6 feet storm surge on the coast of Belize and the Eastern Yucatan Peninsula. A hurricane warning is in effect for the coast of Belize and parts of Mexico and Honduras.
The National Weather Service has also issued a flash flood watch for the Virgin Islands and Puerto Rico. Earl is the fifth North Atlantic Hurricane of 2016.
On July 27, Arthur J. Gallagher & Co. announced the acquisition of Gabor Insurance Services, Inc., including its subsidiary, American Professional Liability Underwriters, headquartered in Miami, Florida. Terms of the transaction were not disclosed.
Area President Rachel Rakey and Houston Health & Welfare Practice Leader Jill Watson have been named Elite Women in Insurance by Insurance Business America magazine. The designation is awarded to women who demonstrate extraordinary professional and personal accomplishments.
Arthur J. Gallagher & Co. will release its second quarter 2016 earnings after the market closes on Thursday, July 28, 2016. A printer-friendly format will be available on the company's website shortly thereafter.
On July 6, 2016 Arthur J. Gallagher & Co. announced it has acquired an 85% interest in Brim AB (Brim), located in Stockholm, Sweden. Brim's annualized revenues total approximately $11 million. Other terms of the transaction were not disclosed.
Public companies face a critical business decision in determining how much Directors & Officers (D&O) liability coverage to purchase. In order to attract and maintain strong independent board members, companies need to secure adequate D&O coverage while keeping down costs.