Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
N.M. Insurance Agent Accused of Fraud
Jan 23 2008 // A Bernalillo County, N.M., grand jury has indicted an Albuquerque insurance agent on multiple charges of insurance fraud, embezzlement and racketeering. Jorge Gimenez, 58, was being held in the Bernalillo County...
Everest Re to Take $311 Million Charge for Asbestos; No Effect Say Rating Agencies
Jan 22 2008 // The Bermuda-based Everest Re Group announced that it has completed the previously announced detailed study of its potential asbestos exposures, and will take a “net pre-tax charge of $311 million related to the...
RISC Adds New Broker, Promotes Two
Jan 22 2008 // Dallas-based insurance wholesaler, RISC, announced the addition of Martin Sommers to its brokerage team. Additionally, RISC promoted Mike Lehde to senior vice president and Jack Bailey to vice president. Sommers has more...
Teacher, Gypsy, Even an Insurance Agent Make Fraud Hall of Shame List
Jan 22 2008 // A glass-eating gypsy, a teacher who faked terminal cancer, and an insurance agent who killed homeless clients are among the top insurance swindlers of 2007. These convicted thieves were inducted into the Insurance Fraud...
California Agents Brace for Rising WC Rates, Sluggish Economy
Jan 18 2008 // In the largest survey of its kind, fewer than half of California’s 10,000 business insurance agents see California’s business economy improving – either for themselves or for their clients – in...
Burns & Wilcox Add Broker to Michigan Office
Jan 17 2008 // Burns & Wilcox recently announced that Jeffrey Brown has joined the company’s Farmington, Mich. office as a broker. Brown will be responsible for placing business for large complex risks, including large...
La. Bail Bond Agent Arrested, License Revoked
Jan 17 2008 // The Louisiana Department of Insurance reported that a Shreveport bail bond agent has been arrested, issued a cease and desist order, a revocation of his license and fine for the felony crime of filing false public...
Networked Insurance Agents Opens New Territory in So. Calif.
Jan 17 2008 // Networked Insurance Agents, a national provider of markets, programs, and placement services to insurance agents, has appointed Cindy DeKay as territorial sales vice president for Metro Los Angeles. DeKay comes to...
Despite Woes, Big Insurance Brokers Still Make the Grade, Says Fitch
Jan 16 2008 // Taken as a group, the nation’s largest public insurance brokers did better in 2007 than 2006, although the continuing soft market will make it harder for them to improve a lot on the 2007 performance in 2008,...
Swiss Re Names Schneider to Head Mexico Brokers
Jan 15 2008 // Richard Schneider, an 11-year veteran of Swiss Re, has been appointed Office Head of Swiss Brokers Mexico. He succeeds Carlos Boelsterli, who has assumed the role of Head of Client Management for Latin America. Schneider...
Agent to Head P/C Office at La. Insurance Department
Jan 15 2008 // Louisiana Commissioner of Insurance Jim Donelon appointed Edward O’Brien to serve as the deputy commissioner of the Louisiana Department of Insurance Office of Property & Casualty, the department announced....
Brokers’ Commissions at Issue in New York
Jan 15 2008 // For now, at least, New York insurance brokers are not legally required to disclose to clients the commissions they earn on policies they place, according to a new legal opinion released by the state’s insurance...
Lloyd’s Broker Miller Forms New Facultative Reinsurance Team
Jan 14 2008 // Miller Insurance Services Limited, an independent specialist insurance and reinsurance broker operating in the international markets and at Lloyd’s, announced that Richard Court has joined the Company, and will...
Fitch to Hold Teleconference on Insurance Brokers Tuesday
Jan 14 2008 // Fitch Ratings will hold a will hold a teleconference to discuss the outlook for the Insurance brokerage industry, on Tuesday, Jan. 15. Fitch said it would specifically discuss the “prospects for publicly traded...
Genstar Capital, Execs Create National Brokerage for Hispanic Consumers
Jan 14 2008 // San Francisco-based Genstar Capital LLC, a middle market private equity firm, has partnered with insurance industry executives and Westline Corp. to establish Confie Seguros, a platform company formed to facilitate the...
People
Jan 13 2008 // Giant insurance broker Marsh announced changes to its global organizational structure as well as several senior management appointments. Marsh said its global insurance broking business will be consolidated into two...
Getting Out and About
Jan 13 2008 // The insurance industry traditionally is bullish on education, networking and sharing professional experiences with colleagues and business partners. After all, the industry is largely made up of “people” people...
Travelers Settles With States Over brokers’ Contingent Commissions
Jan 13 2008 // The Travelers Cos. Inc. will pay $6 million to settle investigations in nine states and the District of Columbia over how it paid brokers. The St. Paul-based company said it had reached agreements with attorneys general in...
Deregulation Pushing Banks Into Insurance Industry
Jan 13 2008 // As the financial services industry has evolved since deregulation, there has been a rise in “bancassurance: the joint effort of banks and insurers to provide insurance services to the bank’s customer...
Maintaining Profitability in a Changing Market
Jan 13 2008 // What will it take to get ahead in 2008? Managing insurance cycles to maintain profitability is a tricky proposition. Higher premiums produced by hard markets provide more income, but it may be difficult to find coverage...
