Montana’s insurance commissioner has placed Great Falls-based Westland Farm Mutual Insurance Co. under her office’s supervision, citing the company’s diminishing cash reserves. Commissioner of Securities and Insurance Monica Lindeen says Westland will cancel all of its homeowner’s insurance policies by …
American International Group Inc. will pay California $15.6 million in penalties to settle allegations that its insurance companies underreported workers’ compensation premiums over several decades. The sum is part of a $146.5 million settlement AIG reached with insurance regulators across …
Here is another sign that American International Group executives may be feeling bullish about the company’s future prospects — CEO Robert Benmosche said this week that Chartis may readopt the AIG brand name in coming years, as the bailed-out insurer …
Habitat for Humanity is planning to build nine houses in Madison for southern Indiana residents displaced by tornadoes. Madison’s local planning commission recommended that the city council rezone 1.25 acres of former city property where Habitat intends to construct the …
The American Association of Insurance Services (AAIS) has developed and filed a comprehensive revision to its mobile-homeowners program. AAIS is a national insurance advisory organization that develops policy forms and rating information used by more than 700 property/casualty insurers throughout …
For Dan and Cindy Griffith, the stress of dealing with the Souris River flood is worse now than when the raging river forced more than 11,000 people to evacuate the city last summer. Cleaning out their flooded home, trying to …
A federal magistrate has ordered the garnishment of money from a life insurance policy owned by former Ball, La., Mayor Roy Hebron, who is serving a four-year prison sentence for defrauding a federal agency. The Town Talk reports U.S. Magistrate …
AmWINS Group Inc., based in Charlotte, N.C., has completed its recapitalization with the private equity firm New Mountain Capital of New York. As announced on April 17, 2012, the wholesale insurance broker reported that its management and employee shareholders agreed …
Marsh & McLennan Agency LLC (MMA), a subsidiary of broker Marsh Inc., acquired Progressive Benefit Solutions (PBS), a $5 million revenue employee benefits agency based in Raleigh, North Carolina. Terms of the transaction were not disclosed. PBS will operate as …
Like the economy, the workers’ compensation market has suffered in recent years. Results for 2011 were no better than 2010. The good news: results for the workers’ comp market were not worse either. The combined ratio held steady at 115 …
