In Congressional testimony July 19, the Independent Insurance Agents of America (IIAA) advocated a series of reforms for the National Flood Insurance Program (NFIP) that would help reverse operating losses and make the federal program actuarially sound. J. Fletcher Willey …
Illinois-based Horace Mann has submitted a settlement deal to the court regarding a class action suit, which was levied against the company from customers who purchased a variety of disability policies. The parties involved in the suit have come to …
China has welcomed the GAB Robins Group of Companies, a provider of independent loss adjusting and investigative services, to Beijing. GAB Robins is the first foreign independent loss-adjusting firm established with total support from the Chinese government. According to GAB …
MGAs, MGUs, general agents, wholesalers and program managers have access to a new source for risk transfer, merchant banking and capital-related services with the creation of Arch Insurance Services, a division of Arch Capital Group Ltd. The foundation of Arch …
The Alea Group recently received approval from the State of New York Insurance Department to acquire Seven Hills Insurance Company. Upon the approval, Alea completed the transaction with Great American Insurance Company on July 2,2001. Formal approval of a name …
The California Department of Insurance announced that Raymond Ellis Wilson, Orange County, Calif., was charged with four felony counts of insurance fraud and booked into an Orange County Central jail last week, and bail was set at $10,000. If convicted, …
A new study by the Workers Compensation Research Institute (WCRI) indicates California workers’ comp claim costs increased at a double-digit rate, growing by 11 percent between 1997 and 1998 (as of 1999 experience). The study points out that both medical …
According to the American Insurance Association (AIA), despite continued opposition from the financial services industry, the California Assembly Banking Committee approved the state’s most controversial financial privacy measure of the 2001 session. Bill Gausewitz, AIA assistant vice president, western region …
Seattle-based SAFECO is taking a number of steps to cut losses and bring growth back to the company which has been in business since 1923. “The expenses we currently have were not a formula for success,” SAFECO President and CEO …
Under a new enterprise agreement, brokers and other professionals of Arthur J. Gallagher & Co. will have use of four risk management software products provided by Specific Software Solutions. According to the company, through exclusive web pages, worldwide Gallagher employees …
