Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
N.Y. Sen. Seward Urges Restraint in Response to Insurance Broker Scandal
May 9 2005 // New York State Senate Insurance Committee Chairman James Seward (R-Milford) told the Professional Insurance Wholesalers Association Inc. that New York policymakers should employ restraint as they look at, “what, if...
A Rey of Hope in Sleepy Hollow
May 9 2005 // Two Daughters Follow’s in Dad’s Footsteps If Frank Rey ever runs for mayor of Sleepy Hollow again, he’ll have a bit more time to devote to it than the last time he served. “It was hard being a...
SECOND THOUGHTS: Tales of demergers, detours and determination
May 9 2005 // Crying?? There’s no crying in baseball. — Tom Hanks in A League of Their Own Bill Cadenhead had decided to sell his 73 percent stake in Cadenhead Shreffler Insurance in Bedford, Tex. to insurance giant Brown...
How to Own an Insurance Company
May 9 2005 // Purchasing a Shell Could be a Smart Move for Some Profit-Seeking Brokers Oft times, managing general agents, wholesalers and insurance brokers feel they are inadequately compensated for the important services they provide...
Safeco Exec Tells SIAA: Independent Agents Key Value is at Point-of-Sale
May 9 2005 // Insurance companies value the personal knowledge of customers that independent agents have and sometimes this point-of-sale personal touch can override even the most sophisticated of rating technology, according to a...
The Mis-Match Game
May 9 2005 // Roger Thomas of Thomas & Thomas Agency Consultants and Appraisers, Inc. in Livingston, Tex. stresses planning as the key in any successful marriage. For insurance agencies, Thomas narrowed the areas of concern to...
California Legislature Takes Action on Several Insurance-Related Bills
May 9 2005 // The California legislature took action on several insurance-related bills recently, including a controversial bill dealing with the issue of broker compensation. SB 938 (Dunn) would “require that an agent or broker...
Former Calif. Agent, Employee Arrested
May 9 2005 // A former California insurance agent and her employee were arrested for allegedly stealing and not remitting premiums to insurance companies of more than $3,000 from victims purchasing automobile insurance policies. Yvette...
Costa Mesa Insurance Agent Arrested
May 9 2005 // An investigation by CDI resulted in the arrest of a Costa Mesa insurance agent. William Earl Stone was arrested at his Costa Mesa business office and transported to the Orange County Jail by investigators. Stone, president...
On the Issue of Agent/Broker Compensation & Contingencies
May 9 2005 // The PIA Western Alliance has always supported vigorous insurance oversight and penalties should be imposed when agents or brokers break the law. As an association we regularly school our members to make sure their...
Heffernan Insurance Brokers Announces Promotion of Williams
May 8 2005 // Heffernan Insurance Brokers, one of the largest full service insurance brokerage firms in the Bay Area, announced the promotion of Steve Williams to president of Financial Services. The Heffernan Financial Services...
IIASA Meeting to Feature Federal Reserve Economist
May 6 2005 // The Independent Insurance Agents of San Antonio announced that Keith Phillips of the Federal Reserve Bank in Dallas will be the keynote speaker at its monthly luncheon on May 19. Phillips will update members on San...
AB 975 Hearing Postponed Indefinitely
May 6 2005 // AB 975, legislation that would clarify the definition of broker in the California Insurance Code, was not heard in the Assembly Insurance Committee May 4, according to the American Agents Alliance. The hearing on AB 975...
Wachovia Acquires Palmer & Cay
May 6 2005 // Palmer & Cay Inc., a Savannah, Ga.-based insurance brokerage and benefits consulting firm with $150 million in annual revenues has been acquired by Wachovia, Corp. of Charlotte, N.C. As a result of the acquisition,...
IBA West Submits Testimony Opposing Revised Proposed ‘Broker Fiduciary Duties’ Regulations
May 5 2005 // IBA West submitted written testimony expressing strong opposition to the revised “Broker Fiduciary Duties” regulations proposed by Insurance Commissioner John Garamendi this week. “While these regulations...
Slivka, Farrell Join New Day Underwriters in N.J.
May 5 2005 // Jeffrey Slivka and Timothy Farrell have joined New Day Underwriting Managers LLC, an environmental insurance wholesale firm, based in Bordentown, N.J. Slivka joins New Day Underwriting as senior vice president of...
FBI Targets Insurers in Widening Fraud Probe; Industry Responds
May 5 2005 // The insurance industry, already under scrutiny by state and federal authorities for various practices, now faces another questioner. The Federal Bureau of Investigation has launched a probe of the insurance industry that...
Guy Carpenter Will Disclose Compensation for Facultative Placements Worldwide
May 5 2005 // Guy Carpenter & Company Inc. announced that its policy regarding disclosure of compensation to clients has been extended to include facultative placements worldwide. Previously, Guy Carpenter announced its commitment...
Calif. Broker Arrested on Seven Counts of Grand Theft
May 4 2005 // Insurance broker Robert Stephen Rice, 56, was arrested on seven felony counts of grand theft at his home in Thousand Oaks, Calif., by the California Department of Insurance (CDI) Fraud Division. The arrest is the result of...
Hub International Acquires Reinsurance Intermediary THB
May 3 2005 // Hub International Limited has entered the reinsurance brokerage market through the acquisition of THB Intermediaries, Inc., which was formed in Los Angeles more than 20 years ago. Terms of the cash and common stock...
