Insurance Journal » Stephanie K. Jones http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 06 Mar 2015 10:00:40 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 State Farm to Pay $352.5M to Settle Texas Residential Overcharge Case http://www.insurancejournal.com/news/southcentral/2015/02/27/358899.htm Fri, 27 Feb 2015 23:22:05 +0000 http://www.insurancejournal.com/?p=358899 A settlement has been reached in a long-running dispute between the nation’s largest homeowners insurer and the state of Texas over premium overcharges. The Texas Office of Public Insurance Counsel (OPIC) announced Feb. 27 that under a settlement with State Farm subsidiary, …

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Berkley: Google’s Entry Into Auto Insurance Should Frighten Agents http://www.insurancejournal.com/news/national/2015/02/24/358522.htm Wed, 25 Feb 2015 00:00:25 +0000 http://www.insurancejournal.com/?p=358522 That Google is getting into auto insurance should have the voice in the head of every agent who sells personal auto coverage saying: “Be afraid, be very afraid.” OK, that’s not exactly how W.R. Berkley Corp. CEO William R. Berkley …

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Texas Insurance Wholesalers Wary of Retail Agent Association MGA http://www.insurancejournal.com/magazines/features/2015/02/23/357824.htm Mon, 23 Feb 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=357824 In mid-November 2014, Texas’ largest association of independent retail insurance agents took the unprecedented step of acquiring a managing general agency as a way of providing its members greater access to non-admitted commercial insurance markets. In announcing the acquisition, the …

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Bills Aimed at Property Claims Litigation Expected in Texas Legislative Session http://www.insurancejournal.com/news/southcentral/2015/02/11/357203.htm Wed, 11 Feb 2015 17:24:04 +0000 http://www.insurancejournal.com/?p=357203 Texas lawmakers are expected to file legislation this year aimed at stemming the tide of property claims litigation in the wake of catastrophic weather events, such as hailstorms. Proponents of such legislation would like to see a measure that limits the time …

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Texas Insurance Wholesalers Wary of Retail Agent Association MGA http://www.insurancejournal.com/news/southcentral/2015/02/09/356987.htm Tue, 10 Feb 2015 00:40:11 +0000 http://www.insurancejournal.com/?p=356987 In mid-November 2014, Texas’ largest association of independent retail insurance agents took the unprecedented step of acquiring a managing general agency as a way of providing its members greater access to non-admitted commercial insurance markets. In announcing the acquisition, the …

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Legislation Addressing Property Claims Litigation Likely to Crop Up in Texas http://www.insurancejournal.com/magazines/features/2015/02/09/356373.htm Mon, 09 Feb 2015 05:00:00 +0000 http://www.insurancejournal.com/?p=356373 By the end of 2008, the Texas residual market for insuring seacoast properties for wind and hail figured it had enough resources available to pay claims for both Hurricane Ike and Hurricane Dolly that hit the Texas coast that year. …

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Ballinger on Growth, Professionalism in Texas Surplus Lines Market http://www.insurancejournal.com/magazines/features/2015/01/26/354661.htm Mon, 26 Jan 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=354661 Phil Ballinger retired at the end of December 2014 as executive director of the Surplus Lines Stamping Office of Texas (SLSOT), a post he’s held for more than two decades. During his tenure at SLSOT, the organization has been recognized …

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How One Broker, CGSC, Is Navigating Stages of Entrepreneurial Business http://www.insurancejournal.com/magazines/features/2015/01/26/354683.htm Mon, 26 Jan 2015 00:00:00 +0000 http://www.insurancejournal.com/?p=354683 Entrepreneurial organizations go through stages of growth, says the chief executive of one of the world’s largest wholesale insurance and reinsurance brokerages. Toby Esser, CEO of Cooper Gay Swett & Crawford (CGSC), says his company went through many transitions in …

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Legislative Focus for Texas Windstorm Insurer: Funding, Depopulation http://www.insurancejournal.com/news/southcentral/2015/01/22/354943.htm Thu, 22 Jan 2015 17:21:28 +0000 http://www.insurancejournal.com/?p=354943 The Texas Windstorm Insurance Association, the state-created insurer that provides property coverage for wind and hail in 14 coastal counties and parts of Harris County, has submitted a report to the Legislature with recommendations to bolster TWIA’s operational efficiency, stabilize …

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Texas Bill Would Protect P/C Agent Ownership of Expiration Rights http://www.insurancejournal.com/news/southcentral/2015/01/13/353952.htm Tue, 13 Jan 2015 23:58:24 +0000 http://www.insurancejournal.com/?p=353952 A bill filed in the Texas Legislature for the 2015 session would clarify that insurance agents in the state have exclusive ownership of the expiration rights to property/casualty insurance policies they sell and place. HB 686 by Rep. Kenneth Sheets, …

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Ballinger on Growth, Professionalism in Texas Surplus Lines Market http://www.insurancejournal.com/news/southcentral/2015/01/08/353298.htm Thu, 08 Jan 2015 17:55:46 +0000 http://www.insurancejournal.com/?p=353298 Phil Ballinger retired at the end of December 2014 as executive director of the Surplus Lines Stamping Office of Texas (SLSOT), a post he’s held for more than two decades. During his tenure at SLSOT, the organization has been recognized …

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How One Broker, CGSC, Is Navigating Stages of Entrepreneurial Business http://www.insurancejournal.com/news/national/2014/12/29/350916.htm Mon, 29 Dec 2014 09:00:52 +0000 http://www.insurancejournal.com/?p=350916 Entrepreneurial organizations go through stages of growth, says the chief executive of one of the world’s largest wholesale insurance and reinsurance brokerages. Toby Esser, CEO of Cooper Gay Swett & Crawford (CGSC), says his company went through many transitions in …

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Bennett Awarded Matt Wells Scholarship to National Alliance Producer School http://www.insurancejournal.com/news/national/2014/12/18/350353.htm Thu, 18 Dec 2014 15:41:27 +0000 http://www.insurancejournal.com/?p=350353 A former college and professional basketball player and coach is the most recent recipient of Insurance Journal’s Matt Wells Scholarship to the National Alliance Producer School. The scholarship honors Matt Wells, son of Wells Media Group Chairman Mark Wells. Wells …

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Education a Priority for Outgoing IIAT Executive Director http://www.insurancejournal.com/news/southcentral/2014/12/16/350346.htm Wed, 17 Dec 2014 00:22:46 +0000 http://www.insurancejournal.com/?p=350346 Texas’ and the nation’s largest state level independent insurance agents’ association is about to lose its long-time executive director, but David VanDelinder plans to continue working with agents and agencies in an educational role. VanDelinder has been executive director of …

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Education a Priority for Outgoing IIAT Executive Director http://www.insurancejournal.com/magazines/features/2014/12/15/349457.htm Mon, 15 Dec 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=349457 Texas’ and the nation’s largest state level independent insurance agents’ association is about to lose its long-time executive director, but David VanDelinder plans to continue working with agents and agencies in an educational role. VanDelinder has been executive director of …

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Former Basketball Player/Coach Awarded Matt Wells Scholarship to National Alliance Producer School http://www.insurancejournal.com/magazines/features/2014/12/15/349450.htm Mon, 15 Dec 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=349450 A former college and professional basketball player and coach is the most recent recipient of Insurance Journal’s Matt Wells Scholarship to the National Alliance Producer School. The scholarship honors Matt Wells, son of Wells Media Group Chairman Mark Wells. Wells …

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Underserved Markets Ripe for Insurance Innovation, Swiss Re Americas CEO Says http://www.insurancejournal.com/magazines/features/2014/12/15/349449.htm Mon, 15 Dec 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=349449 Underserved populations and market niches are ripe with potential for insurance innovators who are willing to take on the challenge of creating opportunities in areas that may seem unprofitable at first glance, says the chief executive of the Americas unit …

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Texas Windstorm Insurer Launches Depopulation Portal http://www.insurancejournal.com/magazines/features/2014/12/01/348002.htm Mon, 01 Dec 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=348002 The Texas Windstorm Insurance Association (TWIA) has initiated a process whereby interested insurance companies may access information on TWIA insured properties in an effort to move policies to private insurers. The association writes wind and hail insurance on properties in …

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Underserved Markets Ripe for Insurance Innovation, Swiss Re Americas CEO Says http://www.insurancejournal.com/magazines/features/2014/12/01/348006.htm Mon, 01 Dec 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=348006 Underserved populations and market niches are ripe with potential for insurance innovators who are willing to take on the challenge of creating opportunities in areas that may seem unprofitable at first glance, says the chief executive of the Americas unit …

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Texas Wind Insurer Launches Depopulation Portal http://www.insurancejournal.com/news/southcentral/2014/11/24/347956.htm Mon, 24 Nov 2014 17:51:16 +0000 http://www.insurancejournal.com/?p=347956 The Texas Windstorm Insurance Association (TWIA) has initiated a process whereby interested insurance companies may access information on TWIA insured properties in an effort to move policies to private insurers. The association writes wind and hail insurance on properties in …

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Michigan Court: Agents May Not Be ‘Professionals’ Under Malpractice Definition http://www.insurancejournal.com/news/midwest/2014/11/19/347389.htm Wed, 19 Nov 2014 11:37:35 +0000 http://www.insurancejournal.com/?p=347389 Is an insurance agent a “professional” when it comes to whether or not he or she may be charged with malpractice? Not necessarily, a Michigan state appeals court has said. The Michigan Court of Appeals made that determination in a …

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Swiss Re Americas CEO: Underserved Markets Ripe for Insurance Innovation http://www.insurancejournal.com/news/national/2014/11/17/347175.htm Mon, 17 Nov 2014 06:13:21 +0000 http://www.insurancejournal.com/?p=347175 Underserved populations and market niches are ripe with potential for insurance innovators who are willing to take on the challenge of creating opportunities in areas that may seem unprofitable at first glance, says the chief executive of the Americas unit …

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Creating Alternatives to Workers’ Comp One State at a Time http://www.insurancejournal.com/magazines/features/2014/11/17/346588.htm Mon, 17 Nov 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=346588 Formed in late 2013, the Austin, Texas-based Association for Responsible Alternatives to Workers’ Compensation — or ARAWC — would like to see an expansion of alternatives to state workers’ compensation systems, such as the nonsubscriber system in Texas and the …

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Michigan Appeals Court: Insurance Agents May Not Be ‘Professionals’ Under Malpractice Definition http://www.insurancejournal.com/magazines/features/2014/11/17/346578.htm Mon, 17 Nov 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=346578 Is an insurance agent a “professional” when it comes to whether or not he or she may be charged with malpractice? Not necessarily, a Michigan state appeals court has said. The Michigan Court of Appeals made that determination in a …

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A Few Thoughts for Insurance Entrepreneurs http://www.insurancejournal.com/magazines/features/2014/11/17/346553.htm Mon, 17 Nov 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=346553 Managerial flexiblity, effective communication, selecting and placing employees wisely, customer care and reputational risk are some of the factors would-be entrepreneurs need to consider when contemplating running their own businesses, according to one insurance executive with the work history to support his …

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Group Aims to Create Alternatives to Workers’ Comp State-by-State http://www.insurancejournal.com/news/national/2014/11/10/346291.htm Mon, 10 Nov 2014 12:37:36 +0000 http://www.insurancejournal.com/?p=346291 Formed in late 2013, the Austin, Texas-based Association for Responsible Alternatives to Workers’ Compensation — or ARAWC — would like to see an expansion of alternatives to state workers’ compensation systems, such as the nonsubscriber system in Texas and the …

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Contractors Need to Be Involved in the Claims Process, BELFOR CEO Says http://www.insurancejournal.com/magazines/features/2014/11/03/345182.htm Mon, 03 Nov 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=345182 Customer service in property claims suffers when the contractor is left out of the settlement process and policy renewals may be in jeopardy because of it. That’s the word from the top executive of one of the world’s largest disaster …

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Contractors Need to Be Involved in the Claims Process, BELFOR CEO Says http://www.insurancejournal.com/news/midwest/2014/10/27/344510.htm Mon, 27 Oct 2014 05:38:58 +0000 http://www.insurancejournal.com/?p=344510 Customer service in property claims suffers when the contractor is left out of the settlement process and policy renewals may be in jeopardy because of it. That’s the word from the top executive of one of the world’s largest disaster …

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A Few Thoughts for Insurance Entrepreneurs http://www.insurancejournal.com/news/southcentral/2014/10/17/343896.htm Fri, 17 Oct 2014 16:44:34 +0000 http://www.insurancejournal.com/?p=343896 Managerial flexiblity, effective communication, selecting and placing employees wisely, customer care and reputational risk are some of the factors would-be entrepreneurs need to consider when contemplating running their own businesses, according to one insurance executive with the work history to support his …

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Oklahoma Earthquakes Rattle On http://www.insurancejournal.com/magazines/features/2014/10/06/342064.htm Mon, 06 Oct 2014 00:00:00 +0000 http://www.insurancejournal.com/?p=342064 Government officials say the rate of earthquakes in Oklahoma of magnitude 3.0 or greater has risen significantly and that statistics show an increased chance for a magnitude 5.5 or greater quake in the state. From January through May 2 the …

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