Latest Agencies Headlines

Roger Sevigny, New Hampshire, Commissioner of Insurance

Oct 9 2006 // The New Hampshire Insurance Department was the first in the nation when it was created in 1851 with a mission to administer the state’s insurance laws. Roger Sevigny, current commissioner, was recently elected an...

Private equity risk: Protecting human capital

Oct 9 2006 // Insurance professionals—brokers, agents and consultants—are faced with increasing demand for their knowledge and expertise in advising venture capital and private equity firms. Venture capital, or VC, is...

Cora Barran was elected president of the Insurance

Oct 9 2006 // People Ernie Csiszar, the Romania-born former South Carolina regulator who two years ago was named president and chief executive officer of the then newly-formed Property Casualty Insurers Association of America, resigned...

Sticking up for the little guys

Oct 9 2006 // Somewhat akin to Rodney Dangerfield, smaller agents don’t seem to get any respect — or at least not as much respect as their larger counterparts. It is becoming difficult to keep the carriers they currently...

Finding a solution to natural disaster insurance

Oct 9 2006 // In 2005, our country faced several devastating and record-setting natural disasters that left the lives of many Americans in ruins, and roiled the insurance marketplace and the nation’s overall economy. Estimates for...

Oct 9 2006 // People Ernie Csiszar resigned from the Property Casualty Insurers Association of America. PCI has launched a national search for a new CEO. June Holmes, PCI’s current chief operating officer, will serve as the...

Association launches attack on Garamendi regulations

Oct 9 2006 // California’s Insurance Brokers and Agents of the West (IBA West) has launched a legal attack on what it is calling California Insurance Commissioner John Garamendi’s attempt to illegally redefine agent and...

Mike Kreidler, Washington, Insurance Commissioner

Oct 9 2006 // The Washington Office of the Insurance Commissioner is a vigorous protector of consumers under the leadership of Commissioner Mike Kreidler. From maintaining a trust relationship between consumers and insurers, to...

Breeding the next generation through internships

Oct 9 2006 // In cooperation with insurance industry partners, universities across the nation are helping to cultivate the next generation of risk managers and actuarial scientists through insurance internship programs. As an example,...

Eight easy strategies for building your agency

Oct 9 2006 // While building a successful agency takes dedication and hard work, it may not be as difficult as you think. A wealth of material exists on the tangible factors and steps necessary for building a successful agency, such as...

Getting to know your agency’s E&O

Oct 9 2006 // Insurance agents’ errors and omissions policies are not created equal. An agent who purchases E&O based solely on price may experience a rude awakening when it’s time to report a claim. Here are just a few...

News Currents

Oct 9 2006 // Agents take aim at Zurich compensation, disclosure settlement Two associations for independent insurance agents have urged a federal court to reject recent settlement provisions between Zurich Insurance and states that...

Terrorism insurance market hits federal radar

Oct 9 2006 // Two new federal reports have found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. Both reports acknowledged that a...

Top 10 goals for agents to make ASAP

Oct 9 2006 // The year is winding down and it is time to focus on goals for next year. The easy route is to take the current results and add X% for growth and improve results by Y%. A few other ideas might also creep in the plan for...

The Future for Agents’ E&O

Oct 9 2006 // David Duncan of David C. Duncan Insurance Services in Rancho Santa Margarita, Calif., is worried about whether and how much the cost of his agency errors and omissions insurance might go up next year. Duncan started his...

Former HRH Exec Building Brokerage Firm; Starts with N.Y.’s Genatt

Oct 6 2006 // Robert Lockhart, former president and chief operating officer of Hilb, Rogal & Hobbs, has launched Kinloch Holdings, Inc. – a newly formed insurance brokerage holding company that will focus on insurance and...

Ohio Former Agent Pleads Guilty to $70,000 Senior Insurance Scam

Oct 6 2006 // The Ohio Department of Insurance announced that its investigation has led to the guilty plea of former insurance agent James Moneypenny of Seville, Ohio. Moneypenny, who pleaded guilty to insurance fraud, money laundering...

Lloyd’s Updating Rules for ‘Names’

Oct 5 2006 // Until 1994, i.e. for over 300 years, “Names,” or individual wealthy investors were Lloyd’s source of capital to back its underwriting syndicates. The introduction of corporate capital changed that...

Ohio Agencies Owe Workers’ Comp Fund $46 Million, Director Says

Oct 5 2006 // Ohio agencies owe the state insurance fund for injured workers $46 million in medical management fees that the agencies weren’t charged for over several years, according to the fund’s director. William Mabe,...

Five Arrested for Theft Related to Contractor Fraud in La.

Oct 5 2006 // Louisiana Attorney General Charles C. Foti, Jr., announced that his Special Agents made arrests for theft of funds related to alleged contractor fraud in the New Orleans area following Hurricane Katrina. On Sept. 25, 2006,...