Latest New Markets Headlines
All the headlines from our New Markets Topic Page, ordered by recency.
Swiss Re Launches Workers’ Comp Plan in Texas
Mar 27 2007 // Swiss Re’s Commercial Insurance introduced its workers’ compensation coverage for small business owners in Texas to be delivered via its exclusive CyberComp platform. According to the company’s...
Ill. Country Financial Enters Chicago Market, Names Fisher as Director
Mar 22 2007 // Veteran Chicago financial services executive Michael Fisher has been appointed director of new market development by Country Insurance & Financial Services and will manage its newly created Chicago district office....
State Farm announces $1.2 Billion mutual auto policyholder dividend
Mar 12 2007 // State Farm Mutual Automobile Insurance Co. recently announced it will pay $1.25 billion in dividends to its mutual auto insurance policyholders in 46 states, the District of Columbia and the Canadian province of New...
Industry needs to leverage enterprise risk management, study says
Mar 12 2007 // Property/casualty insurance companies need to do a better job of implementing enterprise risk management, according to a recent study by Ernst and Young LLP. In its recent quarterly outlook addressing key trends and issues...
Non-Franchised Auto Dealer’s Physical Damage Program Launched
Mar 8 2007 // Memphis, Tennessee – London American Risk Specialists, Inc. and Integon Specialty, a division of GMAC Insurance, are pleased to introduce the immediate launch of a Non-Franchised Auto Dealer’s Physical Damage...
LWCC Announces New Business Unit Manager of Small Accounts
Mar 2 2007 // Louisiana Workers’ Compensation Corporation (LWCC) announced it has hired Bernie Hewitt as business unit manager for the small accounts team. Hewitt joins LWCC from the Montana State Fund, where he was the operation...
N.Y. Gov. Spitzer Announces Workers’ Comp Reform Accord
Feb 27 2007 // New York Governor Eliot Spitzer and legislative leaders announced an agreement to reform the state’s workers’ compensation system that has the backing of business and labor. Under the agreement, benefits for...
Marsh UK Launches New “Fraud & Crime” Coverage
Feb 16 2007 // Marsh UK announced that it has “developed a pioneering new product addressing the fraud and crime risks faced by financial institutions.” Describing the coverage as “the only product of its kind,”...
Hanover Launches Marine Advantage Underwriting Team
Jan 31 2007 // The Hanover Insurance Group Inc. has developed a new unit of marine specialists designed to assist agents placing small volumes of inland marine business. The Marine Underwriting Advantage Team will offer agent partners of...
Agents can score with varied sports and entertainment industry
Jan 28 2007 // The leisure industry is big business, and insuring the wide variety of sports and entertainment activities and venues is an equally large opportunity. From rock-climbing walls and inflatables on-call for children’s...
Fla. Day 2: Senate Passes 25% Rate Cut; Citizens Would Enter Commercial
Jan 18 2007 // Two days into a special legislative session, after debating 20 amendments, the Florida Senate voted to pass Senate Bill 4-A, a measure which promises an average 25 percent premium cut to homeowners and lets Citizens...
London Market Reform Group Unveils 2007 Business Process Plan
Jan 15 2007 // The Market Reform Group (MRG) has produced its plan for continuing to modernize London market processes throughout 2007 and beyond. “Following full consultation with market firms, the plan sets out the group’s...
Progressive’s Drive Enters Mass. Commercial Auto Market
Jan 10 2007 // Drive Commercial Auto, part of The Progressive Group of Insurance Companies, announced plans to offer commercial auto insurance to Massachusetts business owners available exclusively through independent agents. With its...
AIX Group Unveils Program for Auto Physical Damage Cover for Trucking
Jan 10 2007 // Windsor, Conn.-based AIX Group Inc. announced a new program to provide automobile physical damage coverage to commercial trucking operations. This program will be targeting operations with above average loss experience and...
Markel Global Marine & Energy Launches Onshore Energy Property Division
Jan 10 2007 // Houston-based Markel Global Marine & Energy Inc. (MGME) has launched a new division, Onshore Energy Property, the company announced. Established Nov. 1, 2006, this new division will handle onshore property,...
Calif. Announces $295 Million in Additional Distributions to Executive Life Policyholders
Jan 5 2007 // California Insurance Commissioner John Garamendi has announced that the Department of Insurance has won a dispute over the distribution of proceeds obtained through litigation on behalf of policyholders of the failed...
Venture Insurance Programs Launches Independent Marketing Affiliate
Jan 2 2007 // New marketing communications firm targets non-competing program administrators and retail agencies West Chester, Pa.-based Venture Insurance Programs has created a new marketing communications firm, Vertibrands Inc.,...
Texas Mutual Launches Purchasing Groups for Health Care Industry
Dec 27 2006 // Texas Mutual Insurance Company announced two new purchasing groups: Hospitals of Texas (HOTComp) and Texas Medical Group (TMG). Both groups provide members with a competitive option for their workers’ compensation...
Commerce Group Entering N.Y., N.J. Personal Lines Markets Via State-Wide
Dec 27 2006 // The Commerce Group, Inc., the largest auto insurer in Massachusets, expects to enter the New York personal lines insurance market in 2007. Under the terms of the agreement, ACIC Holding Company, Inc., a subsidiary of...
