Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
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...
American Agents Alliance Characterizes CDI’s Proposed Regulations “Unacceptable”
Dec 10 2004 // The American Agents Alliance is continuing to call for the defeat of California Insurance Commissioner John Garamendi’s proposed regulations relating to broker disclosures, terming the proposal...
La. Agent/Pilot Dies in Plane Crash
Dec 10 2004 // The National Safety Transportation Board confirmed that Hammond, La., insurance agent Wade Speed, who was killed when the small plane he was piloting crashed Dec. 5, wasn’t instrument rated. According to...
PCI Seeks Changes to Proposed Rule on Producer Compensation in Oregon
Dec 9 2004 // The Property Casualty Insurers Association of America (PCI) has voiced its general support of the Oregon Insurance Division’s effort to establish an objective way to determine when an insurance broker must make...
13-member Fla. Citizens Task Force Discusses Funding, Customer Service
Dec 9 2004 // The first meeting of the Task Force on Policyholder Services and Relations to Citizens Property Insurance Corp. took place yesterday in Tallahassee. Participants have initially set up operating procedures and discussed how...
