State and federal regulators on Feb. 9 announced agreements that resolve litigation and investigations of securities fraud, account steering, bid-rigging, improper accounting and under-reporting of workers’ compensation premiums by giant insurer American International Group. Under the agreements, AIG will pay …
Hiring a relative can be a terrific or a terrible move. Unfortunately, it isn’t always easy working with your relatives, day after day. Personal and professional problems frequently arise. Regardless, for years, agencies have been passed on from one generation …
More than three-quarters (77%) of wholesalers and brokers said that firm salaries increased in 2005 compared to 2004. Nearly half (49%) of all E & S firms answering Insurance Journal’s survey reported paying their producers a combination of salary plus …
Many car rental operators can save significant expenses and still protect their business by using non-traditional risk management methods. John Smith took his family on a long awaited sunny vacation. Being budget-conscious, John opted to rent a compact car from …
Stock Prices: After four straight months of gains in the brokerage sector, stock prices fell 1 percent during the December/January period. This is particularly notable since the sector traded up 6 percent in October/November and 10 percent in August/September. The …
Excess and surplus lines experts expect to see steady premium growth in 2006, with commercial property and contractors business leading the way, according to an exclusive Insurance Journal survey. Nearly 85% of survey respondents anticipate that their firm’s premium volume …
As part of its record $1.6 billion overall settlement with state and federal officials for fraud and improper accounting, American International Group will pay states $343.5 million for underpayment of workers’ compensation premiums taxes and residual market assessments. The combined …
Encino, Calif.-based NAS Insurance Services has appointed Richard Robin president. He will be responsible for overall operations, including underwriting, marketing and administration. Ed Robin will continue to serve as chairman and will remain responsible for overall management and direction of …
Employment Practices LiabilityNuts & Bolts: CNA has introduced a stand-alone employment practices liability product. The new coverage, EPL Solutions, targets publicly traded commercial companies, financial institutions and financial service organizations. It includes expanded definitions and enhanced coverages that are designed …
When underwriting for commercial properties, insurers need to obtain accurate insurance-to-value (ITV) calculations so they can charge the right premiums for the risks assumed. Adequate ITV should not be taken lightly. If insurers do not receive accurate values for the …
