West News

Colo. Commissioner Claims Rate Filing Review Saved Nearly $4 Million

Colorado Insurance Commissioner Marcy Morrison has issued a statement saying her department’s review of rate filings by two insurers has saved consumers almost $4 million. According to the Department of Insurance, The Hartford Insurance Group proposed a 2.2 percent decrease …

Nevada Doctors Exchange Proposes 15 Percent Rate Reduction

The Independent Nevada Doctors Insurance Exchange has proposed a 15 percent rate decrease for medical professional liability in Nevada, according to the state’s Insurance Division. If approved by the DOI, the rate decrease would apply to new and renewal policies …

Oregon Company Issues Recall of Natural Foods Products

Toby’s Family Foods of Springfield, Ore., is recalling two products because of the risk of salmonella contamination. The company said it is recalling 353 units of Toby’s Lite Sour Creme and Toby’s Toasted Sesame Dressing that were distributed primarily in …

A.M. Best Affirms Employers Holdings’ A- Rating

Reno, Nev.-based Employers Holdings Inc. announced insurance rating bureau A.M. Best has affirmed its financial strength rating of A- (Excellent) and assigned issuer credit ratings of “a-” to Employers Insurance Group and its two pooled property/casualty operating subsidiaries, Employers Insurance …

WIAA Appoints Leader for Legislative and Regulatory Advocacy Program

Ken Nigohosian, the executive vice president for Western Insurance Agents Association will be assuming additional duties to spearhead the association’s legislative and regulatory affairs. Nigohosian joined WIAA eight months ago after a stint as the executive director of the Alliance …

Hawaii $151 Million Unemployment Tax Cut Package Becomes Law

A package passed by Hawaii lawmakers that would save businesses an estimated $151 million over the next three years has become law. The new law, which takes effect Jan. 1, 2008, will drastically cut the taxable wage base used to …

New California P/C Brokerage Firm Formed

Trident IV L.P., a private equity fund managed by Stone Point Capital, announced that it, along with John G. Hahn and Dan R. Francis, have committed to invest up to $100 million to form Edgewood Partners Insurance Center, a new …

Oregon Fines Former Marsh Executive

The Oregon Department of Consumer and Business Services (DCBS) has fined a former executive of insurance broker Marsh USA Inc. for her role in overcharging public entities for insurance coverage. Debora A. Leopold-Hutchins, who was fined $6,000, is the last …

Calif. State Fund To Receive $113,000 For Workers’ Comp Fraud

San Diego County Superior Court Judge Fred McGuire has ordered a San Diego construction firm owner to pay the California State Compensation Insurance Fund $113,327 in restitution for defrauding the workers’ compensation insurance carrier; and, $60,000 to the State Economic …

Agents Criticize RIMS’ Lack of Support for Contingent Commissions

California’s Alliance of Insurance Agents and Brokers has issued a statement, criticizing the Risk and Insurance Management Society’s support of eliminating contingent commissions. In May, RIMS called contingent commissions “an inherent conflict of interest” and noted it was disappointed that …

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