Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
What to Know About Travelers’ CGL Cyber Ruling
May 23 2016 // Experts are cautioning insurance buyers and sellers not to overreact to the recent federal court decision finding data breach defense coverage under a commercial general liability (CGL) policy. Buyers would be mistaken to...
Large, Mid-Sized Agencies See Revenue Growth in Q1: Reagan
May 23 2016 // Organic revenue growth at privately-held large and mid-sized insurance agencies bounced to 5.1 percent for the first quarter of 2016, up from 4.6 percent for the full year 2015, according to the latest Reagan Consulting...
Agents Sound Off on Compensation
May 23 2016 // On a first quarter results call, W.R. Berkley Corp. President and CEO Robert Berkley cited a growing and alarming level of tension between carriers and distribution, driven by what he called a fight to grow margins in the...
Chubb CEO Greenberg Rolls Out Welcome Mat for High Net Worth Competitors
May 23 2016 // Estimating that the high-net-worth (HNW) personal lines market has more than $30 billion worth of business up for grabs, and the small commercial lines market, another $80 billion, Chubb Limited CEO Evan Greenberg sees...
Former New Jersey Agent Sentenced for Bilking $1M From MassMutual
May 20 2016 // A former insurance agent in Essex County, New Jersey, is going to prison for bilking Massachusetts Mutual Life Insurance Company of more than $1 million in commissions and bonuses. A judge sentenced 33-year-old Stanley...
Arizona Governor Signs Law to Close Agent Malpractice Loophole
May 19 2016 // Arizona’s governor has signed a bill to fix a loophole that exposes agents who write auto policies to malpractice suits. The bill was written in response to an Arizona Supreme Court ruling in July 2015 favoring an...
Agents Seek Better Compensation Deal with Carriers
May 19 2016 // On a first quarter results call W.R. Berkley Corp. President and CEO Robert Berkley cited a growing and alarming level of tension between carriers and distributors, driven by what he called a fight to grow margins in the...
Monarch E&S Opens New California Office, Names Five New Employees
May 18 2016 // Monarch E&S Insurance Services has opened a second San Diego County, Calif. office, this one in San Marcos. Five new employees will work out of the office. The employees are: Michelle Mitchell, senior...
On Wine Day, Consider Wineries and Vineyards a Fertile Field
May 18 2016 // If you’re one of those people who think there are enough holidays already, then you may not be happy to hear that National Wine Day is coming up – unless you really like wine, then perhaps an exception is in...
Florida Insurance Agent Sentenced to 7 Years for Insurance Fraud
May 18 2016 // The Florida Department of Financial Services, Division of Insurance Fraud, which operates under the direction of CFO Jeff Atwater, announced the conviction and sentencing of former Orlando insurance agent Mario Ferreri....
Kansas Insurance Dept. Adds Chat Feature to Interact with Agents, Consumers
May 17 2016 // A new interactive online chat feature on the Kansas Insurance Department’s website gives consumers and insurance agents another way to gather insurance information easily, the department announced. “This new...
Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies
May 17 2016 // The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe...
Former Wisconsin Agent Ordered to Pay to $516K in Restitution, $1M Forfeiture
May 17 2016 // A former Wisconsin insurance agent has been ordered to pay more than $516,000 in restitution and a forfeiture of over $1 million for allegedly of misappropriating funds, making misrepresentations about insurance policies,...
Gallagher Acquires Canadian Personal & Commericial Lines Broker, B.R. Rhymer
May 13 2016 // Arthur J. Gallagher has acquired B.R. Rhymer Insurance Agencies Ltd., a Canadian personal and commercial lines broker located in Winnipeg, Manitoba. The agreement will see the business, which has been operating under a...
Burns & Wilcox Brokerage Expands Chicago Team
May 13 2016 // Burns & Wilcox Brokerage has appointed industry veteran Adrian Smith and a team of three specialty insurance brokers to enhance its brokerage capabilities in Chicago. Smith joins the Chicago office as senior vice...
Chedid Capital Acquires 75% Share of UAE Broker Al Manara Insurance Services
May 13 2016 // Chedid Capital Holding, in collaboration with a group of investors in Dubai, has acquired 75 percent of Al Manara Insurance Services Co. Ltd., an insurance brokerage firm with more than 25 years of experience in the United...
Progressive CEO Renwick to Retire; Griffith Chosen as Successor
May 13 2016 // The Progressive Corp. announced that Glenn Renwick, president and chief executive officer, will retire after more than 15 years as CEO and almost 30 years with the company, effective July 1, 2016. Tricia Griffith,...
Why Independent Agents Went to Capitol Hill to Lobby
May 12 2016 // Independent insurance agents and brokers from all 50 states convened in Washington, D.C., last month for the Big “I” Legislative Conference. Our members met with almost every U.S. Senate and House office to...
Manchester Specialty to Offer Allied Health Business Program Through Great American
May 12 2016 // Manchester Specialty Programs, a national specialty underwriting and insurance program management firm for home care, hospice and other health-related classes, is now offering allied health business insurance coverage on...
Agency Mergers Set Record with ‘Unstoppable Momentum’ in Q1: Optis
May 11 2016 // Insurance agency mergers and acquisitions hit an all-time high for the first quarter of a year, with 109 reported transactions in the first three months of 2016. The pace slightly outstripped 107 deals reported in the...
