According to a new report, online insurance marketplaces are now actively pursuing the historically underserved small business customers, who are turning to the Internet to locate coverage. International Data Corporation’s (IDC) new report, “Small Business: The New Darling of eInsurance …
Following a late night debate, the California State Assembly voted to defeat a controversial financial privacy measure that would have given California the most complicated and confusing privacy law in the nation, according to the American Insurance Association (AIA). “This …
SAFECO Corp. and ACE USA announced an agreement for SAFECO Select Insurance Services Inc. to acquire ACE USA’s Financial Institution Specialists (FIS) division. The acquisition of FIS’ $80-million book of premium will more than double the size of SAFECO Select, …
The National Auto Agents Alliance recently issued a statement that credit scoring is “unreliable, inaccurate, and so against public interest as to endanger the insurance industry to the wrath of the public.” NAAA President James W. Holthaus commended Georgia Commissioner …
California Governor Gray Davis signed legislation to raise the assessments on workers’ compensation insurers. The bill, AB 1183, sponsored by Assemblyman Tom Calderon (D-Montebello), will raise the assessment charged to workers’ comp premiums from 1 percent to 2 percent. The …
In the face of the tragedies which occurred on Sept. 11, several insurance trade associations announced cancellations of previously scheduled events. The National Association of Professional Surplus Lines Offices cancelled its Annual Convention in San Antonio, Texas, scheduled for Sept. …
The business of reinsurance is a comparatively small but integral part of the overall insurance industry. Simply defined, reinsurance is transacted on the basis of one insurance company, the “reinsurer,” agreeing to indemnify another insurance company, the “reinsured,” for all …
They say we do not know what we have until it’s gone. As Americans, we have been wrenched from our insulated lives and plunged into something much greater than ourselves. But the love we have for our country has never …
The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account for 2 percent of global Gross Domestic Product. Based on 1996 figures, …
Underwriting tough risks can be particularly troublesome in a hardening market. Where do you turn when rates skyrocket, exclusions multiply or worse, when carriers begin to shut their doors to classes that no longer promise profitability? One option to explore …
