Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
LA. AGENT ACCUSED:
Nov 8 2004 // Louisiana Depart-ment of Insurance Fraud Unit investigators served a Lafayette-area insurance producer (agent) with a cease and desist order and summary suspension of her insurance license, Insurance Commissioner J. Robert...
Unfair Trade Practices Unfair to Insurance Agents
Nov 8 2004 // Here is a tale of two sellers. A realtor sold a home in a quiet neighborhood to a nice family. Shortly after settling in, the new homeowners begin to discover certain defects in the property, which had not been disclosed...
Scandal in the Industry
Nov 8 2004 // The industry was rocked weeks ago with the announcement of New York Attorney General Eliot Spitzer’s charges against Marsh & McLennan. While Spitzer’s probe had been known for some time, the unexpected...
S&P Revises Overall Property/Casualty Outlook to Negative
Nov 8 2004 // Standard & Poor’s Ratings Services has revised its outlook on the U.S. property/casualty commercial lines sector to negative from stable. “The outlook revision follows allegations of widespread misconduct...
P/C Agent E&O Program
Nov 8 2004 // Nuts & Bolts: Rockwood Programs expanded its existing property/casualty agents errors and omissions program. Coverage is now available in all 50 states and the District of Columbia. The core program, called the...
Legislative watchdogs put a fresh spin on traditional lobbying techniques
Nov 8 2004 // Lobbying has been around for as long as any single profession has been around, but it has changed. It isn’t what it used to be,” said John Norwood, managing partner of Norwood & Mattoch, one of...
Underinsured Homeowner Problem Revisited on Anniversary of Calif. Wildfires
Nov 8 2004 // Replacement cost, policy limits, and non-renewal of policies were the source of a heated debate in a day-long hearing investigating underinsured homeowners affected by last year’s wildfires. California Insurance...
Calif. Commissioner Proposes New Broker Regulations, AG Steps In
Nov 8 2004 // In response to New York Attorney General Eliot Spitzer’s charges against super brokerage Marsh McLennan, California Insurance Commissioner John Garamendi proposed new regulations for agents and brokers Oct. 20 which...
Agents Watching Spitzer Broker Fraud Charges Closely
Nov 8 2004 // New York Attorney General Eliot Spitzer’s filing on Oct. 14 of charges against giant insurance broker Marsh for alleged commercial account steering and bid rigging has already had significant impact on Marsh and is...
ASCnet Conferees Hear How to Manage a Profitable Business
Nov 8 2004 // The latest technologies that allow independent agents and brokers to efficiently manage and ensure a profitable business were presented to more than 1,800 conferees attending the Annual Technology, Education and Networking...
Big “I” Takes Proactive Approach to Issues in the Spitzer Investigation
Nov 8 2004 // By now, you probably are aware that insurance broker Marsh & McLennan Companies Inc. and Marsh Inc. (collectively Marsh) were sued in New York on Oct. 14 based on allegations of engaging in certain illegal business...
Fla. AG Launches Widespread Anti-Trust Probe, 10 Subpoenas Issued
Nov 6 2004 // Florida Attorney General Charlie Crist has issued subpoenas seeking documents and records from 10 firms and anticipates sending six more subpoenas out next week as insurance industry investigations widen. Crist is...
‘Wall Street’ Insurance Broker Scandal Hurting ‘Main Street’ Agents, Conn. Big ‘I’ Leader Fears
Nov 5 2004 // “We are Main Street agents. This problem was created on Wall Street.” A Connecticut independent agent leader hopes the reality behind those words will help protect independent agents from being grouped with...
Former Bay Area Insurance Agent to Serve Jail Time
Nov 5 2004 // On Oct. 27, Herbert Amos Jones, of Bethel Island, Calif., pled guilty in Contra Costa Superior Court to one felony count of grand theft. Jones, a former California-licensed insurance agent and regional vice president of...
Big ‘I’ Congratulates Winners, Looks to Future
Nov 4 2004 // The Independent Insurance Agents & Brokers of America (the Big “I”) has congratulated President George W. Bush and all of the winners in House and Senate races, and looks forward to working with all of the...
Pair of Ga. Agents Arrested
Nov 4 2004 // Georgia Insurance Commissioner John Oxendine said an investigation by his office resulted in the arrest of two insurance agents in Albany, Ga. Arrested were sisters Tiawanna Thomas Moore and Kimberly Thomas Goodman....
Hub Acquires Canadian Broker TILCO
Nov 3 2004 // Hub International Limited announced that its Canadian life and financial services wholesale brokerage, Hub Financial, Inc., has acquired TILCO Financial Services Ltd. of Victoria, British Columbia. Terms of the cash...
NAIC Task Force of 13 States to Lead Broker Investigations, Develop Model Disclosure Law
Nov 2 2004 // The National Association of Insurance Commissioners (NAIC) announced that it has recently formed the NAIC Executive Task Force on Broker Activities to gather facts and coordinate activities to address alleged criminal...
Republican Candidates Win ‘Big Time’ in Insurance Industry Political Giving in Federal Races
Nov 2 2004 // The late U.S. House Speaker Thomas P. “Tip” O’Neill (D-Mass.) is famous for insisting, “All politics is local.” Apparently, O’Neill wasn’t counting the money. When it comes to...
N.J. Inquires into Brokers’ Contracts, Commissions
Nov 2 2004 // Continuing New Jersey’s inquiry into recent national allegations of wrongdoing by segments of the insurance industry, Commissioner Holly C. Bakke has issued an order seeking information from major New Jersey brokers....
