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 …
SAFECO is looking for a buyer for its commercial credit and leasing subsidiary, a move that could reduce the amount of debt on SAFECO’s consolidated balance sheet by nearly half. SAFECO Credit Co. specializes in asset-based lending, with significant emphasis …
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 …
U.S. insurers are likely to pay out less than previously expected in claims caused by the earthquake that rattled Seattle on Feb. 28, according to preliminary estimates published March 16 by Insurance Services Office Inc. (ISO). Measuring 6.8 on the …
Flash, flash, flash-it looks just like Oscar Night as car after car speeds through the intersection on a red light. Those of us calmly awaiting the next green shake our heads-“Can you believe that guy?” Each year, more than 1.8 …
Circumventing independent agents. Under-mining agents’ sales. These are phrases that don’t set well with SAFECO CEO Mike McGavick. And it’s no wonder. Appointed as the man to turn the struggling Seattle-based insurer around, McGavick certainly doesn’t want agents to be …
Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At present growth rates, the industry’s combined ratio is on track to be …
The Western world is haunted by the specter of the German government killing millions upon millions of Jews (and others) in concentration camps. I couldn’t sleep when I first saw the pictures in the 1950s. My children couldn’t sleep when …
Fraud investigators in June busted a Tampa fraud ring that crashed cars at a private site, scooped up the debris and moved the wreckage to a public roadway. The members then called police so that they could file fraudulent PIP …
For many people not directly involved in the development of software for the insurance industry, any discussion of new technology can rapidly swell into a serious information overload. Compounding this problem is the oft-noted “snail’s pace” at which new technology …
