DRAMA in the Nonstandard Arena: The NONSTANDARD AUTO MARKET gets ready for action that will include
The nonstandard auto market enjoyed above-average growth and profitability across the country through much of the 1990s. In fact, by the late ’90s, low entry barriers, including modest surplus levels required to support low-limit/short-tail policies, made the segment so attractive …
GALLAGHER ACQUIRES TEXAS AGENCY
Arthur J. Gallagher & Co. has acquired Madison Scott & Associates, Inc. of Amarillo and Houston, Texas. The agency has specialized in group, health and life products and since December 1992. Madison Scott, area president, and his staff will continue …
BAND CROWS ABOUT LOST PROFITS
Band members of the rock group Black Crowes have sued Lloyd’s of London in L.A. Superior Court, alleging that it has failed to reimburse the group for lost profits and expenses its members suffered when former Led Zeppelin guitarist Jimmy …
BOB DOLE DOES LLOYD’S DUTY
Lloyd’s of London has hired former Presidential candidate and former U.S. Senate Majority Leader Bob Dole to help fight a bankruptcy bill provision that could block the company from collecting debts from some U.S. investors. Dole, who has said he …
KINGSWAY ENTERS U.S. AUTO MARKET
Kingsway Financial Services has entered into an agreement with The Access Group to underwrite private passenger auto insurance in the United States, beginning in Georgia, through its wholly owned subsidiary, Lincoln General Insurance Co. Founded in 1994, Access is a …
WORKERS’ COMP WOES
The nation’s workers’ compensation insurers suffered an 86 percent decline in profits, to $144 million during the first nine months of 2000 from a $1 billion peak during the same period in 1998, according to Weiss Ratings Inc., an independent …
BROWN CALLS FOR REVIEW
Suspended Louisiana Insurance Commissioner Jim Brown is calling for a review of the federal prosecutor’s office. In addition, Brown remains free on bond while he appeals his conviction. He was supposed to report to federal prison to begin serving a …
QUAKE TO COST $1 BILLION
The insurance industry could pay up to $1 billion in claims to people whose property was damaged by the earthquake that struck Washington State in February, according to the Insurance Information Institute. The preliminary figure is based on an estimate …
FLOWER MOUND IM-PROVES PPC RATING
Flower Mound, Texas, has improved its public protection classification with the Insurance Services Office from a class 5 to a class 2. Fire departments in Texas are classified on a scale of 1 to 10, with 1 being the highest, …