News Currents A U.S. consumer group has made claims that Geico Corp. uses rate-making methods that directly base eligibility and premiums solely upon the educational background and occupation of consumers. The Consumer Federation of America says that it uncovered a …
Despite Hurricane Katrina’s devastation, a new survey says that most Americans are not very concerned about buying flood insurance for their homes. Only 14 percent of Americans say they have purchased flood insurance for their primary residence, according to the …
The London insurance market: The City and the regulators For 317 years London’s insurance market in general and Lloyd’s in particular has been adapting to changing conditions both locally and globally. It’s never been easy, but the fact that it …
Compensation for an agency is always the largest expense category. For the typical agency, total compensation (producer and employee compensation plus benefits and taxes) ranges from 50 percent to 75 percent of total revenue. If the compensation is too high, …
Non-Standard Auto Times Have Changed. Are you still driving this business? Can independent agents compete in the nonstandard auto market? The big boys are better organized, financed and dominating the byways. They also are not creating a level playing field. …
Oil pipe corrosion big threat as Alaska marks Exxon spill anniversary Since the Exxon Valdez caused the worst oil spill in the nation’s history, tankers that ship Alaska’s crude oil to the West Coast have become stronger and safer. Two …
Dam breaks on Kauai, strong winds, rain down 12 poles on Oahu An earthen dam on Hawaii’s island of Kauai burst without warning on March 14. Three people have been confirmed dead, and four remain missing at press time, after …
Utah names directors, adds market conduct division Utah Insurance Commissioner Kent Michie has appointed two new directors, created a new division and combined two other divisions. “The main thrust of these changes has been to create a new Market Conduct …
As California political race heats up for governor, lieutenant governor, insurance commissioner, and attorney general, the insurance industry is speculating who will lead the state – and how that will affect insurance agents, brokers and insurers. To alleviate some of …
New Markets Management, Professional Liability Nuts & Bolts: National Union Fire Insurance Co. of Pittsburgh, a member company of American International Group Inc., has released AIG ePro, a Web-based system allowing brokers to quote and bind PrivateRisk Protector coverages. PrivateRisk …
