‘All I Want to Do Is Sell’
If This Is Your Mantra, Your Customers Will Vanish It was an early morning meeting, and the atmosphere was relaxed. A sales manager was the last to arrive, whispering to the person next to him as he sat down, “All …
Construction Renovation: Property Flips and Insurance
The number of U.S. single family home sales attributed to flipping is on the decline but that isn’t deterring investors. Despite the percentage of flipped homes shrinking to 3.7 percent of the total homes sold, the profits from flipping a …
E&O Insights: Why Are Umbrellas Causing E&O Claims?
When initially thinking about umbrella coverage as it relates to generating errors and omissions claims, most would probably believe the main issue is the lack of an umbrella. In other words, a customer has a significant loss only to find …
Business Moves
Marsh & McLennan Agency, Senn Dunn Marsh & McLennan Agency LLC has acquired Senn Dunn Insurance in North Carolina. Terms of the transaction were not disclosed. Founded in 1927, Senn Dunn has annual revenue of approximately $30 million and 155 …
N.H. Gov. Hassan to Appoint Workers’ Comp Task Force
N.H. Gov. Maggie Hassan announced on May 22 that she plans to appoint a task force “of workers, businesses, insurers and members of the health care community” to make recommendations to improve the state’s workers’ compensation system. Gov. Hassan has …
HUD OKs N.J.’s Plan to Spend Second Round of Sandy Aid
The federal government has approved New Jersey’s plans to spend $1.46 billion in the second round of Superstorm Sandy recovery aid. The decision by the U.S. Department of Housing and Urban Development was announced on June 2. The plan includes …
Mass. Division of Insurance Rejects FAIR Plan Rate Increase
Massachusetts Commissioner of Insurance Joseph G. Murphy announced on June 9 his decision rejecting the Massachusetts Property Insurance Underwriting Association’s (“FAIR Plan”) request to increase its statewide home insurance rates by an average of almost 7 percent. The Massachusetts Division …
Mass. AG Sues Fannie Mae, Freddie Mac Over Foreclosure Law
Massachusetts Attorney General Martha Coakley has sued the Federal Housing Finance Agency (FHFA) and the mortgage giants Fannie Mae and Freddie Mac for allegedly violating the state’s 2012 foreclosure prevention law. The lawsuit alleges the federal housing regulators and the …
People – East
Hartford Financial Services Group Inc. announced Liam E. McGee will step down from his roles as president and chief executive officer at the end of June. He will stay on as executive chairman of the board until the next annual …
N.Y. Encourages Auto Insurers to Adopt Telematics Programs
New York’s Department of Financial Services (DFS) issued a bulletin on May 27 to all New York auto insurers encouraging them to adopt “usage-based insurance” (UBI) programs. Under these voluntary programs, consumers can install “telematics” devices in their cars that …