Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
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...
Calif. Legislative Committee Takes Correct Action on Producer Requirements
May 3 2005 // California legislators have issued a “sharp rebuke” of Insurance Commissioner John Garamendi’s efforts to impose new requirements on agents and brokers, according to the National Association of Mutual...
Aon Reports Q1 Net Income of $200M
May 3 2005 // Chicago-based Aon Corp. has reported first quarter 2005 net income of $200 million or $0.59 per share, increasing 18% and 16%, respectively, from the first quarter of 2004. Income from continuing operations was $200...
Nationwide’s New Identity Theft Policy Also Available Through Independent Agents
May 2 2005 // Columbus, Ohio-based exclusive-agent carrier Nationwide Insurance announced that its new identity theft policy will also be available through independent agents appointed with Nationwide subsidiary Allied...
IIAOK to Hold CIC Commercial Casualty Institute
May 2 2005 // The Independent Insurance Agents of Oklahoma will hold its CIC Commercial Casualty Institute May 18-21, 2005, at the Hilton Southern Hills, 7902 South Lewis Avenue, in Tulsa. The institute will present up-to-date...
Proposed Legislation Ensures Fairness in Standards Applied to Agents in Texas
Apr 29 2005 // Texas House Bill 2155 and Senate Bill 236 were recently debated before each Chamber’s respective committee. This critical legislation, sponsored by the Independent Insurance Agents of Texas, merits broad support, as...
AIIA Convention Highlights: Young Agents Participation, Educational Sessions Slated
Apr 28 2005 // The Alabama Independent Insurance Agents Inc. has scheduled its June 14 to 16 Young Agents Conference to overlap with AIIA’s June 16 to 18, 109th Annual Convention at the Village at Baytowne Wharf Resort in...
N.C. Agency Management and Technology Conferees to Discuss Hot Topics
Apr 28 2005 // More than 100 independent insurance agents are expected to visit the North Carolina capitol during the May 16-17 Agency Management and Technology Conference sponsored by the Independent Insurance Agents of North Carolina...
The Hartford Notes 17% Gain in Q1 Net Income
Apr 28 2005 // The Hartford Financial Services Group Inc. set a new quarterly record with net income of $666 million, or $2.21 per diluted share, in the first quarter of 2005, a 17-percent increase over the prior-year period. Net income...
Broker Compensation Bill Defeated in Calif. Committee
Apr 28 2005 // The American Agents Alliance reported that SB 938 (Dunn) was heard and defeated in the Senate Banking, Finance and Insurance Committee yesterday by a 2-5 vote. The bill, which the Alliance and other insurance trade groups...
