Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
Looking Back on ’04: The Most Talked-About Stories in the Western Region
Dec 20 2004 // The year 2004 saw a little bit of everything across the Western Region. Workers’ comp, homeowners, med-mal, and even insurance fraud topped the list of the most talked about stories. We compiled these recaps based on...
Industry Consolidation Continues to Gain Momentum, 2005 Looks Cloudy
Dec 20 2004 // Agency consolidations are likely to achieve record results for 2004 but the outlook for 2005 remains unclear. Agency acquisitions in 2004 will more than likely outpace prior years by at least 25 percent. Insurance brokers...
Agents, Insurers Seek Targeted Compensation Disclosure Rules
Dec 20 2004 // The model compensation disclosure measure under consideration by the nation’s state regulators has been met with generally guarded support from agents, brokers and insurers. The Independent Insurance Agents &...
Delaware Regulators Asking Insurance Agents If They’re Honest
Dec 20 2004 // State regulators are asking Delaware insurance agents to fess up if they’ve been engaging in illegal conduct. In the wake of alleged industry abuses in New York, the Delaware Department of Insurance is asking more...
Aon’s Pat Ryan Backtracks on Ethics Declaration
Dec 20 2004 // Aon Corp. CEO Patrick G. Ryan’s attempt at a PR offensive hit a snag when he had to clarify comments he made in a top-of-the-fold, front-page Dec. 5 Chicago Tribune story about the No. 2 broker’s ethical...
From Maine to Virginia … What Happened in 2004
Dec 20 2004 // Leaving aside the insurance brokerage compensation investigations, the World Trade Center trial, the St. Paul-Travelers merger and the UnumProvident settlement, all of which have their roots in this region but grew to...
DELAWARE QUESTIONS AGENTS:
Dec 20 2004 // In the wake of alleged industry abuses uncovered in New York, the Delaware Department of Insurance is asking more than 4,000 insurance agents and brokers whether they have been involved in similar misconduct. The...
Berkshire Bank Buys Woronoco Savings Bank and Insurance Agencies in Mass.
Dec 20 2004 // Berkshire Hills Bancorp, Inc. (AMEX: BHL), the holding company for Berkshire Bank in Pittsfield, Mass., has agreed to purchase Woronoco Bancorp, Inc. (AMEX: WRO), the holding company for Woronoco Savings Bank, including...
Andrew Welsh-HugginsAgents, Insurers Seek Targeted Compensation Disclosure Rules
Dec 20 2004 // The model compensation disclosure measure under consideration by the nation’s state regulators has been met with generally guarded support from agents, brokers and insurers. The Independent Insurance Agents &...
Jury Backs $2.3 Million Award to Terminated Independent Agent; Nationwide to Challenge Verdict
Dec 17 2004 // An eight person jury in the United States District Court in Connecticut awarded $2.3 million in compensatory damages to an independent insurance agent in a decision expected to have serious ramifications on the...
Insurers Say Compensation Disclosure Amendments to Producer Licensing Model Act Still Lacking
Dec 17 2004 // The National Association of Insurance Commissioners (NAIC) distributed a revised version of its draft Producer Compensation Disclosure Amendments to the Producer Licensing Model Act on Thursday and insurers claim the model...
Is It Time to Sell the Agency’
Dec 16 2004 // The following article was published in Insurance Journal magazine on Dec. 6, 2004 Many owners have at one time or another thought about selling their insurance agency or brokerage. Many were tempted but never quite took...
Guy Carpenter Unveils Disclosure Doctrine
Dec 16 2004 // Guy Carpenter & Company, Inc., a global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, has published a “Disclosure Doctrine” for treaty placements globally. The new...
Al Risk Updates ProgramConnect
Dec 16 2004 // The AI Risk division of Risk Specialists Companies Inc., a member company of American International Group Inc. (AIG), announced the expansion of AI Risk ProgramConnect (ProgramConnect), an online specialty lines quote and...
New Zealand Acquisition Expands Sirius Presence in Global Broker Market
Dec 15 2004 // Sirius Financial Solutions, a specialist supplier of software and services to the insurance and financial services industry, has acquired a majority share in New Zealand-based Datasure Management Systems Ltd. “This...
Bowlin to Head Memphis Regions Insurance Group
Dec 15 2004 // David L. “Casey” Bowlin has been named president and CEO of Memphis, Tenn.-based Regions Financial Corporation’s (NYSE:RF) newly created Regions Insurance Group Inc., the corporate parent structure for...
For Mass. Insurance Agents, AG Reilly No Ally
Dec 14 2004 // Massachusetts Attorney General Tom Reilly, who is expected to run for governor, has a history of making life difficult for the state’s independent insurance agents. Last week, the Massachusetts Association of...
Pacific Wholesale Adds Four Staff Members
Dec 14 2004 // Pacific Wholesale Insurance of Texas, based in Dallas, announced the addition of four staff members, Jennifer Hisaw, Brett Kilburn, Kirsten Labauve and Travis Reynolds. Hisaw joins the firm as senior underwriter/broker and...
Progressive Takes ‘Drive’ Online
Dec 13 2004 // The Progressive group of companies has announced the debut of its newest Web site, driveinsurance.com, highlighting the important role that independent agents and brokers play in Progressive’s business model. Drive...
NAMIC: Scope of Change to NAIC Producer Licensing Model Should be Well Defined
Dec 13 2004 // Any solution proposed by the NAIC in response to the broker compensation issue should be targeted to a well defined problem, according to testimony submitted by the National Association of Mutual Insurance Companies...
