Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
AAMGA Offers Feedback on Proposed Broker Disclosure Amendment to Producer Licensing Model Act
Dec 3 2004 // The National Association of Insurance Commissioners (NAIC) recently issued a draft Proposed Broker Discloser Amendment to the Producer Licensing Model Act, and requested industry and public comment before commencing...
Gallagher Acquires Australian Broker FPE
Dec 3 2004 // Arthur J. Gallagher & Co. announced the acquisition of FPE Insurance Brokers Pty Ltd. of Sydney, Australia. The terms of the transaction were not disclosed. “First organized in 1993, FPE Insurance Brokers Pty...
Maine, N.H., Vt. Rules May Spur Attorney Competition
Dec 3 2004 // For Conn. Agents, Concern Over Privacy in Disclosure The ongoing investigation of brokerage commissions and alleged bid-rigging that started in New York is being felt everywhere, nowhere more so than neighboring...
For Conn. Agents, Concern Over Privacy in Disclosure
Dec 3 2004 // The ongoing investigation of brokerage commissions and alleged bid-rigging that started in New York is being felt everywhere, nowhere more so than neighboring Connecticut. Despite an agenda that ranged from identity theft...
N.Y. Insurance Panel Cancels Brokerage Hearing
Dec 3 2004 // A New York Assembly Committee hearing into insurance brokerage practices scheduled for Monday, Dec. 6 has been postponed. The office of the Assembly Insurance Committee said no new date has been announced. Assemblyman...
N.Y. Insurers Caution Lawmakers Over Reaction to Broker Probes As Albany Prepares for Assembly Hearing
Dec 2 2004 // The New York Insurance Association (NYIA) cautioned state lawmakers in Albany against “a knee-jerk public policy reaction” to allegations of improper business practices by brokers, agents and insurers that...
AIG’s Greenberg Predicts ‘Leaner, More Responsive’ Insurance Brokers in Wake of Investigations
Dec 2 2004 // The chairman and chief executive officer if AIG said he thinks the ongoing broker investigations will cost large insurance brokers some of their top people and eventually make brokers leaner and more responsive to...
Allstate, Encompass Partner for Agents
Dec 2 2004 // To better serve independent insurance agencies, The Allstate Corp. is integrating its three independent agency brands under its Encompass independent agency organization, forming one combined sales organization dedicated...
Texas Wasatch Seeks to Expand its Agency Force
Dec 2 2004 // Colleyville, Texas-based Texas Wasatch Insurance recently announced it is in the final stages of completing a recruitment program to double its Texas agent workforce. Mark E. Jones, Texas Wasatch Group CEO, explained,...
NAMIC Raises Concerns Over Proposed NAIC Broker Activities Questionnaire
Dec 2 2004 // The National Association of Mutual Insurance Companies (NAMIC) voiced its concerns about an NAIC-developed template suggested to states to query their domestic carriers about possible relationships with large brokerage...
PCI Supports NAIC Broker Disclosure Provisions, but Recommends Changes in Written Testimony
Dec 2 2004 // The Property Casualty Insurers Association of America (PCI) supports provisions of a model regulation that require insurance brokers to disclose that they are acting as a broker and to disclose all sources of compensation...
FERMA Survey Finds Risk Managers Question Broker Compensation; More Transparency Needed
Dec 1 2004 // According to a recent e-mail survey, conducted by the Federation of European Risk Management Associations (FERMA), risk managers and their associations have long questioned how brokers are compensated. FERMA queried the...
Execs Predict Shift in Insurance Brokerage Compensation in 2005
Dec 1 2004 // A new poll has found that property casualty executives expect changes in the insurance brokerage and regulatory models to have fundamental and long-lasting effects on the industry, including downward pressure on industry...
Task Force Formed to Improve Citizens’ Services in Fla.
Dec 1 2004 // A 13-member joint task force has been created in Florida to recommend improvements in the operation of the Citizens Property Insurance Corporation which would improve customer service and returning policies to the...
NCOIL Releases Broker Disclosure Model in Effort to Address to Compensation Issues
Dec 1 2004 // In an effort to address broker compensation issues that have arisen as a result of New York Attorney General Elliot Spitzer’s and other state investigations, the National Conference of Insurance Legislators (NCOIL)...
Conn. Chief Hears No Complaints of Rigged Bids; Defends Role in Balancing Industry, Consumer Needs
Nov 30 2004 // Despite charges of bid-rigging and conflicts of interest against the insurance industry, Connecticut Insurance Commissioner Susan F. Cogswell said she has not found corruption in Connecticut. Cogswell said she isn’t...
Former Okla. Insurance Agent Gets 97 Months
Nov 30 2004 // A former Shawnee, Okla., insurance agent was sentenced recently to 97 months in federal prison, but state prosecutors say the man has agreed to a much lengthier sentence for swindling scores of investors out of more than...
Fireman’s Fund Unveils $1 Million Program to Improve Fire Safety, Prevention for the Bay Area
Nov 30 2004 // Fireman’s Fund Insurance Company (FFIC) of Novato, Calif. today announced more than $1 million in funding and donations for firefighting equipment, fire prevention tools, firefighter training and community fire...
Calafiore Elected President of Greater N.Y. Brokers
Nov 29 2004 // The Council of Insurance Brokers of Greater New York inaugurated its youngest president to date — Anthony S. Calafiore, president, Apex Brokerage Co. Inc. — at its 27th annual Dinner Dance. CIBGNY also honored Terry M....
Ark. Issues ‘Reminder’ on Producer Compensation
Nov 29 2004 // The Arkansas Insurance Department announced it has begun a general investigation of the insurance practices of Arkansas insurance brokers and insurance companies. In light of the recent “bid-rigging”...
