Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
Former California Agent Pleads Guilty in $6M Fraud Case
Feb 3 2015 // An Upland, Calif. man has pleaded guilty to federal bank fraud and tax charges in relation to a loan scam that reportedly netted him more than $5.9 million. Derek Richard Brewart, 53, a former licensed insurance agent and...
Feds: Wisconsin Insurance Agent Ran $10M Ponzi Scheme
Feb 3 2015 // The U.S. Securities and Exchange Commission is alleging a Watertown, Wis., insurance agent ran a $10 million Ponzi scheme out of his agency, ISC Inc. The SEC filed a securities fraud lawsuit against 69-year-old Loren...
N.Y., Mass. Adopt Certificates of Insurance Law
Feb 2 2015 // New York and Massachusetts in January became the latest states to enact laws to prohibit improper use of certificates of insurance. On Jan. 28, New York Gov. Andrew Cuomo signed into law a bill (A.9590/S.6545-A) that would...
Iowa Insurance Broker Plans to Add 90 Jobs over 3 Years
Feb 2 2015 // A Dubuque, Iowa-based insurance broker has announced plans to add 90 jobs over the next three years. Cottingham & Butler President and CEO David Becker tells the Dubuque Telegraph Herald that it could add as many as 45...
Georgia Agent Sentenced to 5 Years for Stealing Insurance Premiums
Feb 2 2015 // A Gwinnett County, Ga. man convicted on charges including insurance fraud has been sentenced to serve five years in prison. According to Insurance Commissioner Ralph Hudgens, 56-year-old Ronald Alan Dunn of Loganville was...
4 CAA Agencies Expand Through M&As
Jan 30 2015 // Austin, Texas-based Combined Agents of America LLC (CAA) announced that member agencies have expanded their books of business and locations through mergers and acquisitions (M&A) over the last nine months. Together,...
Willis, Clark Thomson in Commercial Network Tie; SME Transfer
Jan 29 2015 // Willis Group Holdings announced that Scottish independent broker, Clark Thomson Insurance Brokers Ltd (CTIB), has agreed to join Willis Commercial Network (WCN) in a deal that includes the purchase of Willis’s...
IA&B Adds to Sales Center Staff in Pennsylvania
Jan 27 2015 // Insurance Agents & Brokers (IA&B), a tri-state trade organization based in Mechanicsburg, Pennsylvania, hired John Angstadt as business development specialist and Cheryl Shiffer as professional lines account...
Not All Program Market Competition Is Good
Jan 26 2015 // The program insurance business market has enjoyed years of growth and appears on track to continue its expansion. However, while program business is attracting new interest, some participants are cautioning that not all...
Texas Bill Would Protect P/C Agent Ownership of Expiration Rights
Jan 26 2015 // A bill filed in the Texas Legislature for the 2015 session would clarify that insurance agents in the state have exclusive ownership of the expiration rights to property/casualty insurance policies they sell and place. HB...
Mercury in California Ordered to Pay $27.5M for Unapproved Broker Fees
Jan 26 2015 // California Insurance Commissioner Dave Jones ordered Mercury Insurance to pay a fine of $27.5 million because Mercury auto insurance consumers were allegedly charged unapproved broker fees. Mercury did not obtain...
Independent Agents See Carriers’ Online Sales As Major Threat: Accenture Survey
Jan 26 2015 // Independent insurance agents’ strengths in customer service and risk management could be challenged by changing consumer behaviors, new technologies and the evolving competitive landscape, according to a new report...
E&O Insights: Key E&S Issues Agencies Need to Know
Jan 26 2015 // Regardless of whether the market is hard or soft, for agencies to be successful will typically require that they have an active, ongoing relationship with at least a couple of excess and surplus lines (E&S)...
Michigan Orders Unlicensed Agent, ‘Fictitious’ Insurer to Stop Selling Insurance
Jan 26 2015 // The Michigan Department of Insurance and Financial Services (DIFS) has ordered Ray Coleman, Midwest Insurance Group and RPM Insurance Group (RPM) to cease and desist from selling, soliciting or negotiating insurance...
Ex-Kansas Insurance Agent Gets Prison Sentence for Client, Company Theft
Jan 26 2015 // Prosecutors say a former insurance agent in Kansas has been sentenced to 42 months in prison for stealing from his clients. The U.S. attorney’s office said that 43-year-old Jason Matthew Pennington of Wichita pleaded...
‘One-Day’ Policy Sales Lead to Agent License Suspensions in Michigan
Jan 26 2015 // The Michigan Department of Insurance and Financial Services (DIFS) announced it has suspended the licenses of father and son insurance agents Ali Ali and Adnan Ali-Aljadri and their insurance agencies AAS and ASA for...
Senior Market Presents Opportunities for Young Agent Specialists
Jan 23 2015 // The graying of America could be a great opportunity for young entrepreneurs, including young insurance producers. As the nation’s population continues to gray, the people who work in the many businesses and...
Global Insurers, Brokers Establish Micro Insurance Consortium
Jan 23 2015 // A group of global insurance companies and brokers took advantage of the World Economic Forum meeting in Davos to announce that they have established a micro insurance consortium and micro insurance venture incubator...
J.M. Wilson Opens Office in South Carolina
Jan 22 2015 // J.M. Wilson, a managing general agency and surplus lines broker, has opened a new branch office in S.C. The office, located at 4130 Faber Place Drive, Suite 200A, in North Charleston will be led by Debbie Martinez, branch...
The On-Boarding Process: Making New Clients Feel like Family
Jan 22 2015 // In today’s competitive market, an effective client on-boarding process is the most important step in cultivating a lasting relationship. In order to develop a solid foundation, insurance brokers must make new clients...
