Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
Texas Continues Crack Down on Late Surplus Line Filings
May 4 2011 // Among the enforcement actions for March 2011 announced by the Texas Department of Insurance are a number of fines imposed on surplus lines wholesalers for failing to report surplus line premium in a timely...
Bank Insurance Fee Income Again Reaches Record High
May 3 2011 // Bank insurance brokerage fee income in 2010 reached a record level as it rose 7.9 percent from $12.36 billion in 2009 to $13.33 billion in 2010, according to a new report. The report, compiled by Michael White Associates...
Tennessee Insurance Agents Secure Investigation Protections, Lower Fines
May 2 2011 // Tennessee insurance agents who come under investigation by the state will enjoy some new due process protections and face lower financial penalties if found in violation of any laws under a measure just signed into...
Pending State Legislation to Implement NRRA Is Fly in the Ointment
May 2 2011 // Pending state legislative proposals, such as California’s AB 315, that would implement the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) are akin to the fly in the ointment. The NRRA becomes effective on July...
What Agents Need to Know About Recreational Insurance
May 2 2011 // Vehicles used for recreational purposes such as RVs or boats carry distinct risks that require unique claims, coverage and concessions that automobile insurance does not. Before your client puts his boat in the water or...
MLR Dramatically Impacting Commissions, Agents Tell Regulators
May 2 2011 // The impact of the medical loss ratio has been dramatic on the agents and brokers in this country and it was dramatic immediately.” That’s a quote from Beth Ashmore, an independent insurance agency owner from...
Spring Flooding Renews Concerns over National Flood Insurance Program Expiration
May 2 2011 // For agents across much of the Northeast, the last several months have brought spates of spring flooding ā and has served as a reminder for what is poised to become a political battle this fall over frequent lapses and...
Calif. Commissioner Seeks Stricter Penalty Powers
May 2 2011 // California Sen. Noreen Evans, D-District 2, has introduced legislation to grant explicit authority to the state Insurance Commissioner to order restitution as part of an administrative enforcement action against an...
Web Exchange
May 2 2011 // InsuranceJournal.com Reader Poll Do you think P/C insurers, rating agencies and regulators place too much emphasis on computerized catastrophe models? Yes (146 votes) 68.87% No (39 votes) 18.4% Not sure (27 votes) 12.74%...
MLR Dramatically Impacting Commissions, Agents Tell Regulators
May 2 2011 // The impact of the medical loss ratio has been dramatic on the agents and brokers in this country and it was dramatic immediately.” That’s a quote from Beth Ashmore, an independent insurance agency owner from...
Health of Agents
May 2 2011 // The role of health insurance agents under the new federal healthcare law is under review, again, by state and federal policymakers. Illinois Insurance Director Michael McRaith says the law’s medical loss ratio (MLR)...
People
May 2 2011 // Dallas-based insurance brokerage firm Roach Howard Smith & Barton (RHSB) appointed Tom A. Hughston as its new CEO. Hughston, previously the company’s executive vice president, is an established leader in the...
Georgia Regulates Certificates of Insurance
May 2 2011 // Georgia Gov. Nathan Deal is expected to sign into law a bill requiring that certificate of insurance forms be filed with and approved by the state insurance commissioner. Agent groups and insurance companies have had...
People
May 2 2011 // Novato, Calif.-based Fireman’s Fund Insurance Co. named Andrea James vice president, national sales leader. She will lead the National Broker team. This role establishes engagement and relationships at multiple...
Agents: Tread Carefully When Providing Workplace Safety Advice
May 2 2011 // Woe to the employer who is not attentive and actively engaged in health and safety.” That’s the warning the California Division of Occupational Safety and Health (Cal/OSHA) is giving employers in the Golden...
Bragging About an Agent’s Book of Business May Create a Greater Legal Duty of Care
May 2 2011 // It has often been said that every attorney has a little larceny in his heart. In similar fashion, it could be said that every insurance agent has a little puffery in his heart regarding his book of business, background and...
Officials Target ‘Rebating’ in Federal Crop Insurance Sales
May 2 2011 // Farmers and insurance agents who sell federal crop insurance policies may soon be required to certify that they are not participating any rebating or incentive schemes related to the sales of those policies. The 2008...
E&O for Agents – A Necessity Even if Mistakes Don’t Happen
May 2 2011 // Errors and omissions insurance is available, and necessary, not just because mistakes happen. A customer’s perception can be that the reason a loss was not covered, valid or not, was the result of an agent’s...
100 Years of Relationships
May 2 2011 // Fourth Generation Family Owned Moreton & Co. Honors Traditional Values Top 100 Agency Profile Rank: No. 18* Agency Name: Moreton & Co. Main Office: Salt Lake City, Utah Additional Locations: Sandy, Utah; Boise,...
A Third of Large U.S. Firms Show Business Interruption From Japan Disaster
Apr 29 2011 // More than a quarter of large U.S. based businesses are experiencing disruptions to their supply chains or contingent business interruptions as a result of the March earthquake in Japan, says a new report. A new Greenwich...
