People
The Hartford’s Chief Financial Officer David M. Johnson plans to step down later this year. He has served as the company’s top financial officer since 2001, and will remain in the position until a successor is found. Before coming to …
It Figures
$22.5 Million Amount the insurance affiliate of the Automobile Club of Southern California (the Interinsurance Exchange of the Automobile Club) will issue in refunds to approximately 120,000 policyholders to resolve lawsuits. The lawsuit was brought by The Proposition 103 Enforcement …
New Markets
The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Kidnap & Ransom Coverage Nuts & Bolts: Travis-Pedersen & Associates of Arizona LLC is offering …
Oregon Insurance Department Proposes Changes to Insurance Licensing Dates, Fees
Oregon’s Department of Consumer and Business Services is proposing to permanently adopt a temporary rule that reduces fees for license examinations and reexaminations for insurance producers, adjusters and insurance consultants. DCBS also is proposing to change the biennial renewal date …
Business Moves
Berkshire Hathaway Jake Garn, chief financial examiner of the Utah Insurance Department, announced that the department issued a Certificate of Authority to Berkshire Hathaway Assurance Corp. The company now is authorized to sell insurance in Utah. Berkshire will provide Utah …
When it Comes to Insurance Cycles, Mutuals and Stocks Behave Differently
Difference is tied to how mutual insurers build market share, says Conning researcher When it comes to managing through a soft cycle, it turns out mutual companies behave in a way that’s different than their stock-owned brethren, according to a …
Business Moves
Texas Farmers Insurance Company Texas Farmers Insurance Company filed a rate increase for its “Texas Family Home Policy” with the Texas Department of Insurance. The increase would impact 200,000 customers or approximately 35 percent of Farmers’ homeowners customers in the …
Texas Supreme Court Continues Onslaught of Coverage Decisions
Since last August, the Texas Supreme Court has issued a half dozen major insurance cases, many on issues pending for years. The Court recently heard argument in key cases involving the insurability of punitive damages in general liability policies and …
To Perpetuate or Sell – It’s a Big Decision to Make
Agencies that choose to remain independent can do so with hard work, industry consultant says If you run your business as if you will choose to perpetuate you’re maximizing value,” says John Wepler, president of the consulting firm Marsh Berry …
It Figures
$1.9 Million New York-based aviation fueling company Allied Aviation Services Inc. has agreed to pay nearly $1.9 million to black and Hispanic workers at the Dallas-Fort Worth International Airport to settle a racial harassment lawsuit brought by employees who said …