Lansing, Mich.-based Accident Fund Insurance Company of America has hired Michael K. Britt as its new executive vice president of insurance operations. The newly-created position includes oversight of the business development, third party administration and claims areas. Britt will report …
As they face pressure to do more with less, nonprofit organizations are increasingly modeling some of their fund raising, employment practices and even marketing of services after for-profit businesses. According to a recent study, this so-called “capacity building” process has …
Illinois’ state health insurance pool should get $5.4 million under a compromise measure Sen. Dick Durbin helped push through after negotiating a more than $1 million increase over what the original bill proposed. The bill was approved by the Senate …
Over the years, many a vexed property casualty insurance company executive has joked about his firm being a nonprofit, blaming pricing regulation, market cycles, high loss ratios, low investment income or some combination of these forces for erasing net gain. …
Universal ExcessNuts & Bolts: The Hartford Financial Services Group Inc. introduced Universal Excess, a new excess insurance policy that fits firmly over directors and officers, fiduciary, employment practice, miscellaneous professional and tech errors and omissions products issued by any insurer. …
Imagine going online to receive competing rates for an account from multiple carriers just once. No more logging onto to individual company sites, with their separate logons and passwords, and re-entering data at every turn. Increased sales for you and …
New York State’s largest provider of homeowners insurance should reconsider its decision to stop writing new policies in the metropolitan area over concerns about hurricane damage, according to Sen. Charles Schumer. “The chances of a Katrina-type hurricane hitting our area …
While nobody wants to report a loss, there are several insurers that are not bothered if they don’t report a profit. They serve the nonprofit market and are themselves nonprofit organizations. One of the nonprofit insurers in the market is …
A group of retailers has filed suits challenging laws in Maryland and New York that were enacted to pressure employers to spend a minimum amount on their employees’ health benefits. The Retail Industry Leaders Association claims that the so-called “fair …
Anticipating and assessing risk, along with defining and assigning value to units of exposure are basic components of an insurance underwriter’s job. Challenging as such tasks are when examining well-known exposures, they become doubly daunting when faced with previously unknown …
