Operations News

Six Keys to Harleysville’s Turnaround

Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year in its history. That’s when newly appointed CEO Michael Browne — who declared the company’s performance …

Test Your 2010 Insurance News IQ: 25 Questions

Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page– don’t cheat!) were developed based on news stories published by InsuranceJournal.com in 2010. Good luck! 1. …

Miller, Shoemaker Join InVEST Board

InVEST, the insurance industry program that brings insurance education to classrooms, has appointed Peter Miller and Loren P. Shoemaker to its national board. Miller is president and CEO of The Institutes and Shoemaker is senior vice president and chief operating …

Liberty Mutual Paying $7.5M to Settle Bid-Rigging Charges

Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits, New York will receive $5.5 million and …

Insurance Year in Review: East Edition

The touchy subject of agents’ commissions dominated headlines in 2010 — particularly in New York where regulators unveiled new rules that will force agents to reveal to clients how much they are paid. That decision struck a major nerve within …

Customer Acquisition 101: Grading Insurance Carriers

Internet leads have become an essential element of doing business for insurance companies in this day and age. However, despite working hard and spending considerable amounts of money on marketing to pull in these leads, most insurance companies don’t do …

The Hartford Selling Third Party Claims Unit for $278M

The Hartford said it has inked a $278 million deal to sell its third-party claims administration business, Specialty Risk Services (SRS), to Sedgwick Claims Management Services Inc. The Hartford said the deal is expected to close in the first quarter, …

Reader’s Choice

Never lose sight of what the reader wants. That has been the motto for Insurance Journal throughout its 85-year history of publishing news and information for our most important customers — independent agents and brokers. To accomplish this mission, editors at …

Lessons Learned and Looking Ahead at Lloyd’s

December is often a time of reflection on what we’ve achieved, where we’ve stumbled and what lessons we will take forward into the New Year. When Lloyd’s published its three-year strategy earlier this year, it was clear that one of …

How an E&O Claim Could Affect Agency Employee’s Career

Survey Finds Agencies Take a Second Look at Hiring Employees With Past E&O Histories Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to agency errors and omissions (E&O) exposures. …