Despite five days of round-the-clock efforts to save it, the 40-story oil rig, the world’s largest, owned by the Brazilian state oil company Petrobas, sank Tuesday afternoon in over 3000 feet of water 80 miles off the coast. One of …
Amwest Insurance Group Inc. announced that it will immediately cease writing new commercial automobile policies. The decision to discontinue this product line follows the company’s plan of reorganization previously adopted by the board of directors. All remaining policies will be …
Insurance associations are up in arms again over the recent request of lawmakers that the California Supreme Court review the use of ZIP codes in rating auto policies. The Personal Insurance Federation of California, American Agents Alliance and others are …
ePolicy.com Insurance Services Inc., which provides online insurance for small businesses and professionals, announced an alliance with Staples.com. As part of the agreement, ePolicy will offer a complete suite of insurance products to Staples.com’s more than 1 million small business …
The Independent Insurance Agents of America has endorsed IVANS Business Tracker as an industry-standard technology. IVANS Business Tracker is a distribution tool that allows companies to electronically circulate documents via the Internet. It is designed to receive reports from carriers’ …
Zurich Financial Services, the Swiss-based Group that owns Farmers Insurance, announced that it had concluded a strategic alliance with Bank of America “to develop and market integrated banking and insurance solutions to a combined customer base of 37 million households.” …
Bermuda’s ACE Ltd. announced that one of its top executives, John Charman, who was recently named group president and chief executive officer of the ACE International Group, was leaving the company. “This development occurred as a result of differences between …
Elan Steinberg, the executive director of the World Jewish Congress, said that the organization would oppose Prudential plc’s agreement to acquire Houston-based American General unless the British company agrees to join the International Commission of Holocaust Era Insurance Claims. The …
Sovereign Risk Insurance Ltd., a joint venture between Bermuda’s XL Capital and ACE Ltd., announced that it has agreed with the Inter-American Development Bank to reinsure half of a $100 million loan made to Brazil’s VBC Energia S.A. to enable …
As a distribution channel, independent agents are doing a fairly good job of holding down the fort. The Independent Insurance Agents of America recently examined market share among the three channels: direct response, captive agent and independent agent. 1 Independent …
