Latest Talent Headlines
All the headlines from our Talent Topic Page, ordered by recency.
Aetna to Cut 5,000 Jobs, Take Charges of
Dec 19 2000 // Aetna Inc. plans to cut 5,000 jobs, or 13 percent of its work force, and take an estimated $565 million in charges in the fourth quarterin an effort to cut costs and boost profits. The move is Aetna’s first step in...
Claim-Coding Mistakes Found, Confirmed by Ohio Bureau of Workers’ Compensation
Dec 14 2000 // As many as 23,000 workers’ comp claims filed in 1999 were miscoded or lacked a code that helps determine the premiums paid by businesses. So found a study released Monday by the Ohio Bureau of Workers’...
$72.5 Million in Compensation For Endowment Mortgage Errors
Dec 5 2000 // As expected, Royal Bank of Scotland has been ordered to pay an estimated £50 million ($72.5 million) in compensation to customers of its Royal Scottish Assurance affiliate who bought endowment mortgages between 1990...
CPCU Report: Urge to Merge Wages War Throughout the Industry
Nov 27 2000 // “Make no mistake about it—we are at war right now,” John Amore, CEO of Zurich U.S. Specialties, told a roomful of 600+ attendees during the general session of the 52nd Annual Golden Gate Chapter CPCU All...
AON CUTS 3,000 JOBS
Nov 20 2000 // Aon Corp. reported it will cut 3,000 jobs, or 6 percent of its work force, and take up to $325 million in charges over the next few quarters in an effort to overhaul its operations. Aon’s third-quarter profits rose 1...
New Study Profiles CSRs’ Compensation, Servicing Volume, Responsibilities
Nov 10 2000 // The Academy of Producer Insurance Studies has published a new study on customer service representatives, The CSR Profile: Facing Challenges in Customer Service. Based on the survey results of over 1,000 CSRs, it updates...
Insurance Broker Aon to Cut 3,000 Jobs
Nov 2 2000 // Aon Corp. reported today it will cut 3,000 jobs, or 6 percent of its work force, and take up to $325 million in charges over the next few quarters in an effort to overhaul its operations. Aon’s third-quarter profits,...
Liquidation Ordered For Illinois Earth Care Workers Compensation Self-Insurance Pool
Nov 1 2000 // The Circuit Court of Cook County, Ill. has granted Insurance Director Nathaniel S. Shapo’s petition to place Illinois Earth Care Workers Compensation Trust into liquidation. The Illinois group workers’...
Commission on Health and Safety and Workers’ Compensation Evaluate Proposal
Oct 27 2000 // The California Commission on Health and Safety and Workers’ Compensation (CHSWC) is evaluating a proposal that it undertake a study of the California Hospital Fee Schedule. The study would include the following:...
XL CUTS JOBS, CONSOLIDATES
Oct 23 2000 // Bermuda’s XL Capital Ltd. unveiled the second phase of its restructuring plan, announcing a refocusing on more profitable underwriting lines and a consolidation of management functions, which will lead to a drop in...
State Compensation Insurance Fund Rewards Policyholders with Projected $82-Million Dividend
Oct 19 2000 // Despite the generally poor workers’ comp marketplace conditions throughout California, San Francisco-based State Compensation Insurance Fund announced projected dividends totaling $82 million for policyholders...
Mynd Corp. to Cut 300 Jobs
Aug 31 2000 // Insurance software manufacturer Mynd Corp. is awaiting government approval of a proposed buyout by Computer Sciences Corp. at $16 per share. The financially struggling company also said 300 jobs would be cut. The reduction...
GuideOne to Cut 200 Jobs; To Phase Out Nonstandard Auto, HO Lines
Aug 25 2000 // Des Moines-based GuideOne Insurance will cut 200 local jobs over the next year as the company eliminates three business lines, according to a report by The Des Moines Register. The company employs roughly 1,000 people at...
CONCORDE COMPENSATION
Aug 21 2000 // Air France announced it would compensate relatives of all 113 people who perished as a result of the July 25 crash of a Concorde aircraft near Paris. The airline’s Deputy Managing Director Philippe Calavia said that...
Survey Says Insurance Industry Hiring to Increase in 2nd Half of 2000
Aug 8 2000 // Results of a new survey, conducted by management Recruiters International Inc. (MRI), indicate that 50.4 percent of executives with responsibility for hiring in the insurance industry plan to increase staff hiring in the...
Farmers Ins. to Close Maryland Phone Center, Eliminate 114 Jobs
Aug 4 2000 // Farmers Insurance Group will close an insurance call center in Timonium, Maryland by the end of this year, a company official said. The move, done for financial reasons according to Carol Siegfried, Farmers’...
Salaries of Insurance Executives Searchable on
Jul 11 2000 // Insure.com has launched its new Insurance Executive Salary Tool, an interactive guide to the paychecks of the leaders of the insurance industry. The tool allows insure.com readers to view executive compensation for a...
Ohio Casualty Restructures Avomark, Cuts Jobs
Jun 29 2000 // Ohio Casualty Corp. is restructuring its Avomark Insurance Co. operations, which will result in cutting 114 jobs. The changes are geared to reflect the company’s new Internet-only strategy and will result in an...
Pennsylvania Employer Sentenced for Not Carrying Workers’ Compensation Insurance
Jun 21 2000 // A Westmoreland County employer who pleaded guilty to five misdemeanor violations of the Pennsylvania workers’ compensation law was recently sentenced to five years probation, ordered to pay $14,798 in restitution and...
Wrong Time for a Career Change
May 15 2000 // Jo Blackmore of Van Nuys was arrested on workers’ comp fraud. The 55-year-old real estate agent continued to work while receiving disability benefits. According to CDI fraud investigators, on April 28, 1998,...
