Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
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....
K&B Brokerage Opens for Business in Virginia
Nov 2 2004 // Retail insurance agents have a new brokerage resource: K&B Underwriters, LLC, of Fairfax, Va. Founded by insurance veteran Bryan Baird, K&B is a wholesale brokerage. Baird notes that K&B’s initial...
Independent Agents Unsure About Florida Amendment 3
Nov 2 2004 // With all the publicity about the presidential race, Florida’s Amendment 3 and other amendments on the ballot have taken a backseat and how they are decided could have far-reaching effects on the insurance agents...
Ala. Agents Plead Guilty in Bribery Case
Nov 2 2004 // Two insurance agents have pleaded guilty in Birmingham, Ala. to giving money to Cherokee County elected officials in exchange for the county’s insurance business, the latest corruption case to surface in the...
Mercury Insurance Loses Appeal in Broker Fees Case
Nov 2 2004 // Mercury Insurance Company producers acting as brokers are considered agents and not brokers, and thus are not entitled to collect any broker fees, according to the California Court of Appeal’s ruling in Krumme v....
Roderick Named EVP at Lockton Insurance Brokers
Nov 2 2004 // Lockton Insurance Brokers, Inc., a commercial insurance brokerage firm with offices in Irvine and downtown Los Angeles, recently announced Richard Roderick as executive vice president. Roderick, who joined Lockton in 1996,...
Pa. AG Sues 16 Including Attorneys Over Alleged Widespread ‘Living Trust’ Sales Scam
Oct 29 2004 // Pennsylvania Attorney General Jerry Pappert has filed a civil lawsuit in Commonwealth Court accusing 16 defendants of engaging in an elaborate statewide living trust sales scheme, that deceived older Pennsylvanians into...
Alabama’s DOI On A Fact-finding Mission to Interview Brokers, Companies
Oct 29 2004 // The Alabama Department of Insurance is interviewing brokers and companies that are tied to entities that have attracted the attention of prosecutors in New York and other states. “There have been serious allegations...
American Driving Records Delivers Instant Motor Vehicle Records Through Ivans Transformation Station
Oct 29 2004 // First Advantage Corp., a risk mitigation and business solutions provider, and IVANS Inc., have entered into an agreement to deliver motor vehicle records through IVANS insurance agent interface platform, Transformation...
Calif. AG Launches Probe Into Ins. Cos., Broker Practices
Oct 29 2004 // Attorney General Bill Lockyer announced he has launched a formal investigation into possible antitrust violations and fraud by insurance companies and brokers, and said the probe’s initial focus will be on...
London’s Muted Reaction to Spitzer Investigations
Oct 28 2004 // The London market in general and Lloyd’s in particular has not been overly verbose in commenting on New York State Attorney General Eliot Spitzer’s ongoing investigation of the insurance industry. Apart from a...
Former Insurance Broker Convicted of Grand Theft
Oct 28 2004 // Alexander Silva, of Sylmar, Calif. and formerly a licensed insurance broker, pled guilty Oct. 22, 2004, to one count of grand theft. Silva was sentenced to 30 days in Los Angeles county jail, five years probation, and...
Ariz. Insurance Director Reviews Alleged Broker and Insurer Bid-Rigging Practices
Oct 28 2004 // The Director of the Arizona Department of Insurance, Christina Urias, is joining insurance regulators in other states to review allegations of bid-rigging and price-fixing between insurance brokers and insurance companies....
Greenberg Out, Cherkasky In, at Marsh; Broker Vows to Unveil ‘Significant Reforms’ Today
Oct 26 2004 // Jeff Greenberg The Marsh & McLennan board of directors announced it has accepted the resignation of chairman and chief executive officer Jeffrey W. Greenberg. Stepping in to immediately replace Greenberg is Michael G....
Arthur J. Gallagher & Co. Acquires N.Y.’s Yanoff
Oct 26 2004 // Arthur J. Gallagher & Co. (NYSE:AJG) announced the acquisition of I. Arthur Yanoff & Co., Ltd., headquartered in Valley Stream, New York. Terms of the transaction were not disclosed. Incorporated in 1966, I....
IIABA Honors Two CAA members for Best Practices
Oct 26 2004 // Austin, Texas-based Combined Agents of America, LLC (CAA) announced two of its member agencies, Bigham-Kliewer-Chapman-Watts and Bosworth & Associates, have been included as part of an elite group of independent...
The Professional Liability Maelstrom
Oct 25 2004 // Service Providers at Risk As the United States, Europe, Japan and other developed countries turn from industrial-based to service-based economies, more and more people are engaged in providing services, and the more they...
Agents Watching Spitzer Broker Fraud Charges Closely
Oct 25 2004 // Some worry the probe could move beyond public brokers and large commercial risks. New York Attorney General Eliot Spitzer’s filing on Oct. 14 of charges against giant insurance broker Marsh for alleged commercial...
MASS. AGENTS IN COMMISSION FIGHT:
Oct 25 2004 // The Mass. Attorney General has recommended that agents’ auto insurance commissions be frozen at $114 per vehicle until further proof of agencies’ actual expenses is made available. The AG is pressing for...
State, Federal Regs Concern Outgoing Big ‘I’ President
Oct 25 2004 // During my term we have made numerous advances, I couldn’t have done any of them without the help of the Executive Committee and dedicated committee members,” said Louise “BeBe” Canter, president of...
