Yearly Archives: <span>2005</span>

WIAA Response to CDI Advisory Letter on Disclosure

Our Lawyers Are Reviewing Your Legal Opinion. We Disagree With It. We’re Glad There’s New Found Industry-wide Agreement on Disclosure Rancho Cordova…The issue of full dollar disclosure has been the most contentious issue facing the California Broker-Agent community. Seeking clarity …

Cambridge General Agency Updates Web Site

California-based Cambridge General Agency has recently updated their Web site to include an online indicator in addition to their new company logo. “We are very pleased to release a new version of our Cambridge Web site. This new version has …

IWIF Promotes D’Alessandro

Maryland’s IWIF Workers’ Compensation Insurance recently promoted Carmine D’Alessandro to director of legal services. He previously served as assistant director of legal services for the Towson-based insurer. A resident of Perry Hall, D’Alessandro has been employed with IWIF since 1994.

Acordia Purchasing Assets of Somerton Student Insurance Services

Acordia Inc., a bank-affiliated insurance brokerage and a subsidiary of Wells Fargo & Company, acquired the assets of Somerton Student Insurance Services in Rancho Murieta, Calif. The acquisition closed Aug. 1, 2005. Terms of the transaction were not disclosed. Somerton …

Record First-Half, Surplus Boost P/C Insurers’ Ability to Pay Hurricane Losses

The U.S. property/casualty insurance industry’s net income after taxes rose 29.1 percent to a record $30.9 billion in first-half 2005 from $23.9 billion in first-half 2004. Reflecting the industry’s income, its consolidated surplus, or statutory net worth, increased 4.7 percent …

Fla. CFO Calls for Added $500M in Savings for State’s Small Businesses

Tom Gallagher, Florida’s chief financial officer, this week called for greater savings for Florida’s small businesses based on an independent review of proposed workers’ compensation rates for the state. Gallagher said that the proposed decrease of 7.2 percent in workers’ …

More than 70 Dead as Hurricane Stan Bashes Mexico, Surrounding Areas

Parts of Mexico and surrounding regions witnessed major destruction from Hurricane Stan earlier this week, with more than 70 people reported dead in Central America. Formerly a Category 1 storm, the storm was reportedly losing strength on Wednesday over the …

Aetna Expanding Workers’ Comp Network; Now Covers 17 States

Hartford, Conn.-based Aetna is expanding its Aetna Workers’ Comp Access network into six additional markets, adding to the more than 190,000 physicians and health care professionals and 900 hospitals currently participating in 11 other markets. AWCA offers a network access …

Alliance Names Best Deal’s Munguia Agent of the Year

South Gate insurance executive Phil Munguia has been honored as the “Agent of the Year” by the Indian Wells, Calif.-based Alliance of Insurance Agents and Brokers (the Alliance). Munguia, who serves on the Alliance Board of Directors and as the …

XN Financial Unveils Products for High Value Homeowners’ on Fla. Coast

XN Holdings, parent company of XN Financial Services and XN Risk Insurance Services, will enter the Florida high value homeowners’ market with a comprehensive suite of products that includes wind-only coverage. The XN Financial solution will reportedly be distinguished by …