Business Moves

U.S. Risk Insurance Opens Irvine, San Diego Offices

U.S. Risk Insurance Group Inc. has opened a Irvine, Calif., office and a satellite office in San Diego. Scott T. Carroll has joined the company as vice president and branch manager to manage and develop the new facility, focusing on full service brokerage of property, casualty and professional coverages.

Also joining the Irvine office are: Connie Chalayan, vice president; Brian Kelly, assistant vice president; Lisa Foley, broker; Jan Johnson, associate broker; Pam Hubbard, associate broker; Ralph Solis, associate broker; and Diana Leon, broker assistant.

The San Diego office will be staffed by: Vicki Larry, broker; and Barbara Williams, associate broker.

For more information contact either of the offices: U.S.Risk Brokers, 2600 Michelson Dr. Suite 1190, Irvine, CA 92614. Phone: (949) 863-0020. Fax: (949) 863-0440. U.S. Risk Brokers, 610 W. Ash St. Suite 1900, San Diego, CA 92101. Phone: (619) 236-9700. Fax:( 619) 236-0700. U.S. Risk Insurance Group, Inc. is a specialty lines underwriting manager and wholesale broker headquartered in Dallas.

Microsoft Co-Founder Buys Stake in International Catastrophe Insurance

Microsoft co-founder Paul Allen’s Vulcan Capital has purchased majority and controlling ownership of International Catastrophe Insurance Managers, a Boulder, Colo., company that provides insurance coverage to businesses in regions that are prone to earthquakes, hurricanes and other natural disasters.

Graham founded ICAT in 1998 and will continue as CEO. W. Marston Becker will become chairman of the board. Becker has been a member of ICAT’s Advisory Council since 1999. Becker was CEO of Orion Capital Corp. through the sale of Orion to Royal Sun Alliance.

Liberty Mutual Authorized to Manage Captives in Montana

Now Montana and the Cayman Islands have something in common: Liberty Mutual Alternative Markets. Over the summer, Liberty Mutual gained approval to establish Liberty Mutual Management Ltd. and authorization to manage captives in Montana.

With the establishment of its newest off-shore captive management operation, Liberty Mutual Alternative Markets now holds licenses in five domiciles: Bermuda, Vermont, South Carolina, Montana and Cayman. Like South Carolina, the company targeted Cayman for its healthcare expertise, which complements Liberty Mutual’s growing suite of healthcare products such as structured liability programs for nursing homes.

Back on-shore, Liberty Mutual Alternative Markets continued expanding its domestic presence with captive management authorization from Montana. A rapidly growing captive market, Montana’s reputation is in professional liability such as medical malpractice, lawyers, accountants and engineers-an area where Liberty Mutual wishes to increase business.

Brokers and clients interested in the company’s Cayman operations can contact Joe DaSilveira at (441) 296-7740. Those interested in Montana can contact Chris Ridge at (843) 375-2020.

Boston-based Liberty Mutual Group (LMG) is a global insurer and sixth largest property and casualty insurer in the United States.