Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
IIABL Offers La. Big I Network for Member Agents
Nov 18 2004 // The Independent Insurance Agents and Brokers of Louisiana (IIABL) reported it has established the Louisiana Big I Network to offer alternative markets for agencies that are restricted because of premium volume. What...
Maine Preparing Questionnaires for Largest Brokers
Nov 18 2004 // Maine has joined a nationwide investigation into price fixing and other abuses in the insurance industry. Maine Insurance Superintendent Al Iuppa said his department is working with the National Association of Insurance...
Sen. Fitzgerald Says Broker Fee Scandal May End Antitrust Exemptions
Nov 17 2004 // A bulletin from the office of lame-duck Illinois Republican Sen. Peter G. Fitzgerald indicates that: “It might be time to use federal antitrust enforcement to ensure that the insurance brokerage industry remains...
Mass. Must Face the Facts About Its Flawed Auto System, Commissioner Bowler Tells Agents
Nov 17 2004 // It’s time for Massachusetts to face the facts about its old ways of tightly regulating private passenger auto insurance and create a modern day system, Massachusetts Insurance Commissioner Julianne Bowler told agents...
Grange Offers New SIS Technologies to Agents
Nov 17 2004 // Columbus, Ohio-based Grange Insurance said it is employing a new technology that will allow its agents a more accurate, faster process for real-time submission of policy changes and new business. Grange said its agents...
Allied Insurance Joins Trusted Choice
Nov 17 2004 // Des Moines, Iowa-based property/casualty insurer Allied Insurance has joined the Independent Insurance Agents and Brokers of America’s Trusted Choice branding campaign. Allied, a division of exclusive-agent behemoth...
Study: Spitzer Probe to Reduce Brokers’ Bottom Line
Nov 16 2004 // A new industry study claims that the reactionary tactic of many leading brokers to abandon contingency commissions will ultimately lead to a significant hole in their bottom line earnings, as much as 25 percent, and will...
Fla. AG Issues Subpoenas to 11 Insurers
Nov 16 2004 // Florida Attorney General Charlie Crist on Tuesday issued subpoenas to 11 insurance companies as part of an ongoing investigation into the business practices of the insurance industry. The subpoenas seek documents and...
In Washington Testimony on Broker Pay, Council Maintains Best Price Not Always Best Policy
Nov 16 2004 // The Council of Insurance Agents & Brokers said today it is “misguided” to presume that brokers and insurance carriers must be in an adversarial relationship to best serve their commercial customers. In...
At Senate Hearings into Broker Pay, NAIC Claims States Get Job Done without Headlines
Nov 16 2004 // New York Superintendent of Insurance Greg Serio, speaking on behalf of the nation’s state insurance commissioners, will tell a Senate subcommittee today that state regulators play a critical role in guaranteeing a...
Former Agent Codey Becomes N.J. Governor
Nov 16 2004 // Richard J. Codey, long time Democratic legislator and local independent insurance agent in his West Orange community, became New Jersey’s acting governor at the stroke of midnight. Codey assumed the office from James...
N.J.’s NIP Specialty Brokerage Adds Young, Silverman
Nov 16 2004 // NIP Specialty Brokerage LLC of Woodbridge, N.J. has added two senior brokers to its growing team. Shawn Young is a casualty insurance specialist with experience in general liability, products liability, auto liability and...
Independent Insurance Agents Defend Themselves at Senate Hearing over Broker Compensation
Nov 16 2004 // The nation’s largest independent insurance agency group will go before a Senate subcommittee in Washington today to attempt to put some distance between large insurance brokers facing allegations of illegal...
Conn. AG Urges Tougher State Action, Offers Own Insurance Reforms in Testimony Before Senate Panel
Nov 16 2004 // Despite charging that too many state insurance regulators have become “industry captives,” Connecticut Attorney General Richard Blumenthal is rejecting calls for federal intervention in the regulation of...
N.Y. AG Suggests Off-Shore Insurers, Rating Organizations, Insurer Investments Next Targets
Nov 16 2004 // New York Attorney General Eliot Spitzer signaled today he believes investigations of the insurance industry have only “scratched the surface” thus far of questionable activities and that additional probes are...
P&C Insurers Call for Compensation Disclosure
Nov 16 2004 // In testimony today before a Senate subcommittee, Property Casualty Insurers Association of America President and CEO Ernie Csiszar urged public policy makers to give careful consideration to efforts that make insurance...
State Regulators Reveal Model Disclosure Act
Nov 16 2004 // An insurance broker would be required to obtain written approval from a customer before receiving any compensation from an insurer for a piece of business under a model compensation disclosure act unveiled by the...
Mass. AG Targets Health Insurance Brokers’ Pay
Nov 15 2004 // The Massachusetts attorney general’s office is scrutinizing the practice of health insurers offering lucrative commissions to brokers who are supposed to lock in the best deals for employers. Insurers have for years...
SEC Probe of Hartford Life Opens Federal Front
Nov 15 2004 // The U.S. Securities and Exchange Commission has opened a new front in the widening investigation of insurance brokerage fees, launching a probe of Hartford Life, a unit of the Hartford Financial Services Group Inc. The...
Spitzer Sues Universal Life Resources over Broker Pay
Nov 15 2004 // A California-based company that brokers life, accident and disability policies for leading U.S. companies pocketed millions of dollars a year in hidden payments from insurers and from charges on clients’ unsuspecting...
