Monthly Archives: <span>April 2001</span>

CROP RIP-OFF’

A North Texas independent crop adjuster has pleaded guilty to one charge of presenting false claims to the U.S. Department of Agriculture Crop Insurance Corp. The fraud charges stem from a West Texas crop insurance claim paid by Fireman’s Fund …

SAI TO LEAVE TEXAS

SAI Plus, LLC, of Rockville, Md., has agreed today to stop its unlicensed health insurance business in Texas and to pay restitution to people whose medical bills should have been paid by the company. Commissioner Jose Montemayor and officers of …

FORE!

Local associations around Texas have planned their annual golf outing fundraisers. The 2001 Insurance Women of Austin Golf tournament has been scheduled for May 17 this year at the Blackhawk Golf Club near Pflugerville. The proceeds of the tournament are …

KATY AGENCY ACQUIRED

Brown & Brown Inc. has acquired substantially all of the assets of Vaught Insurance Services in Katy, Texas. The company will be merged into the current Brown & Brown of Texas office in Houston under the direction of President Robert …

LAW AND ORDER

New residential property insurance amendatory endorsements adding $5,000 in “law and ordinance” coverage to standard homeowners and dwelling policy forms are now mandatory with policies written or renewed effective April 1, 2001. Texas insurers may discontinue using the endorsements when …

Swan Song

This is my swan song to you. In just a few days I’ll begin a new job with a new set of challenges. In just a few weeks I’ll be married and beginning a new life. It’s been quite a …

Living Through the Dot-Com Shakeout

Either through personal experience or observation, we all know that during the second half of 2000, Wall Street pummeled the value and image of Internet companies. The bloom was off the rose. Investors realized that most Internet companies were grossly …

Three Big Carriers Join Forces to Launch Web-Based Agency

American International Group Inc., Kemper Insurance Companies and Prudential Insurance Company of America recently announced plans of a joint venture called Fusura, a web-based insurance agency that will allow consumers to research, buy and manage their personal lines insurance needs. …

Insurers Sound Off About Rate & Form Filing

In the summer of 2000, a survey on rate and form filings procedures implemented by state insurance departments was sent to the National Association of Independent Insurers (NAII) membership. This survey was conducted in light of efforts being made by …

P/C Earnings Fall 7.5 Percent in 2000; Surplus Down for First Time Since 1984

The property/casualty insurance industry’s net income after taxes fell 7.5 percent last year to $20.2 billion from $21.9 billion the year before, according to figures released by the Insurance Services Office Inc. and the National Association of Independent Insurers. The …