Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
Declarations
Oct 19 2009 // Mud Flows After Fires “After the smoke has cleared from any wildfire, there is still the potential for catastrophic damage and losses to homes and neighborhoods when winter storms come. Most homeowners policies do...
Recession Slows But Doesn’t Halt Brokerage Consolidation: Advisen
Oct 19 2009 // Size still matters, reminds a new report on the insurance brokerage market by Advisen Ltd. As a result, the frenetic pace of consolidation in the brokerage sector will be only temporarily slowed by the global economic...
Insurance Brokerage M&A Took a 3rd Quarter Vacation
Oct 19 2009 // Deal making wasn’t at the top of the list of summer activities this season, but deal vacation was. Third quarter merger and acquisition (M&A) activity continued declining to just 30 announced transactions between...
Agencies’ Overall Growth Down But Personal Lines Up
Oct 19 2009 // The bad news is that overall organic growth for independent insurance agencies is down. The good news is that there continues to be growth in two areas: personal lines and group product sales. The Independent Insurance...
New York Insurance Agents Fined For Accepting Kickbacks
Oct 16 2009 // New York regulators have fined 43 insurance agents and brokers a total of $42,650 for accepting kickbacks, or failing to supervise staff who accepted kickbacks, to steer customers to certain auto glass repair shops, the...
Agents’ E&O: What Do YOU Know? Participate In Insurance Journal Survey Now
Oct 15 2009 // It’s time again for Insurance Journal to find out what’s been going on with Insurance Agents’ Errors & Omissions Insurance. IJ’s annual survey solicits the experiences and opinions of...
California Agent Sentenced to 13 Years in Theft Case
Oct 14 2009 // A Sacramento insurance agent has pled no contest in a case in which it was alleged she took money from clients to invest in real estate loans, but never did. The authorities have said that Maria Elna Flora, 59, who pled to...
Risk Managers Call for Insurance Broker Compensation Disclosure
Oct 14 2009 // In a report released today, The Risk and Insurance Management Society Inc. (RIMS) is calling for complete disclosure of revenue streams from placing insurance products. The push for transparency outlined in the report is...
Miami Insurance Agent Accused of $14 Million in Premium Finance Fraud
Oct 13 2009 // A Miami insurance agent was arrested for the second time in less than a month for stealing more than $14 million by submitting thousands of fraudulent premium finance contracts for fictitious policyholders, according to...
Southern California Broker Sentenced for Stealing
Oct 13 2009 // Former insurance agent and San Diego County resident Lynn Flanagan, 60, was sentenced to serve 180 days in jail and pay more than $100,000 in restitution for stealing from clients, the California Department of Insurance...
Texas-based Firm Named PIA’s Managing General Agency of the Year
Oct 13 2009 // The National Association of Professional Insurance Agents has named Empower Insurance Group MGA Inc., headquartered in Fort Worth, Texas, as recipient of its 2009 Managing General Agency of the Year Award. “Empower...
PIA Names Ohio Mutual Insurance Group 2009 Company of the Year
Oct 13 2009 // The National Association of Professional Insurance Agents has named Ohio Mutual Insurance Group as the recipient of its 2009 Company Award of Excellence. The annual PIA National Company Award of Excellence honors companies...
Western Security Surplus Forms New MGA Facility
Oct 12 2009 // Dallas-based Western Security Surplus Insurance Brokers (WSS) has announced that all managing general agency business and specialty programs that it has been handling will now be written through a new exclusive MGA Dallas...
Insurance Broker Pleads to Embezzling in Colorado
Oct 12 2009 // A Hawaii resident has pleaded guilty in Denver to an embezzling charge. Fifty-nine-year-old Barney T. Lyles was accused of embezzling from an employee benefit fund when he was chief executive officer at the defunct...
Two Louisiana Agents, Eight Employees Told to Stop Selling Insurance
Oct 9 2009 // The Louisiana Department of Insurance reported it has issued cease and desist orders to two West Monroe, La.-area agents for allegedly allowing unlicensed employees to conduct the business of insurance. Eight unlicensed...
Recession Does Not Stop Brokerage Market Consolidation
Oct 9 2009 // The marked trend toward consolidation in the insurance brokerage sector may have a hiccup, but it will not be slowed by the global economic recession, according to a new report on the insurance brokerage market by Advisen...
New Jersey Agents Group Elects New Leadership
Oct 8 2009 // The Independent Insurance Agents and Brokers of New Jersey (IIABNJ) has elected new leadership. Terry M. Ryan of Hanson & Ryan in Totowa will serve as the new chairman of the association. Ronald Gansfuss of Gansfuss...
Allstate Agents Petition IRS for Review of Independent Contractor Status
Oct 8 2009 // The National Association of Professional Allstate Agents (NAPAA) has published and is distributing a petition to the Internal Revenue Service, written by an unidentified Allstate agent, questioning whether Allstate has...
States, Industry Worried Federal Insurance Office Would Regulate
Oct 7 2009 // State insurance regulators, insurance carriers and independent insurance agents are concerned that redrafted legislation to create a federal insurance office makes the new agency too much like a regulator. Testifying...
Louisiana Agency Named Trusted Choice Agency of the Month
Oct 7 2009 // Dupre Carrier Godchaux Agency Inc., located in Louisiana’s Acadiana region, has been named the Trusted Choice Agency of the Month by Trusted Choice, the consumer branding program for independent insurance agents and...
