insurance broker News

California Insurance Broker Sentenced For Scamming Tom Hanks

A Southern California insurance broker who overcharged Tom Hanks and his wife, Rita Wilson, hundreds of thousands of dollars has been sentenced to more than two years in federal prison. City News Service says Jerry Goldman received a 27-month sentence …

Hub International in Chicago Passes from One Owner to Another

Ownership of the insurance broker Hub International is being passed from one private equity firm to another. Funds advised by Hellman & Friedman will buy a majority stake of the Chicago company in a deal that values Hub at $4.4 …

Michigan Broker Gets 5 Years in $1M Fraud Case

A northern Michigan insurance broker accused of fleecing elderly clients out of more than $1 million has been sentenced to 5 years in federal prison. Prosecutors say William Lowder persuaded clients to change their investments and put money in annuities …

After the Storm: Insurance Agents E&O Lessons Learned

More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. As parties find themselves without the coverage they expected after a catastrophe, it appears to be a natural reflex for them …

Montana Couple Seeking Damages From Broker For Fed Raids

A Helena couple that rented a greenhouse to a medical marijuana operation have sued their insurance broker after their insurance company denied a $75,000 damage claim filed following a federal raid of the operation. The Independent Record reported the lawsuit …

Broker Gets 30 Years For Stealing From Elderly

A 49-year-old insurance broker who stole large amounts of money from elderly clients has been sentenced to 30 years in prison and must pay more than $1.4 million in restitution. The Denver Post reported Mendenhall was convicted of 25 counts …