Latest Texas Headlines
All the headlines from our Texas Topic Page, ordered by recency.
Independent Business Group Earns More Than $335K in Texas Mutual Dividends
Dec 2 2009 // Texas Mutual Insurance Company announced a $335,220 dividend to the National Federation of Independent Business (NFIB) workers’ compensation purchasing group for manufacturers. The group has earned more than $878,000...
Ban of Discretionary Clauses in Insurance Contracts Sought in Texas
Nov 30 2009 // The Texas Office of Public Insurance Counsel wants the Texas Department of Insurance to adopt a rule OPIC banning discretionary clauses in insurance policies. The OPIC says discretionary clauses give the insurer broad...
State Farm Appeals Texas Commissioner’s $310M Refund Order
Nov 30 2009 // State Farm Lloyds has filed an appeal to a Texas Department of Insurance order to pay home insurance policyholders $310 million in refunds and interest for alleged overcharges going back as far as 2003. Spokesman Kevin...
Stringer Elected to Lead Texas Surplus Lines Association
Nov 24 2009 // Monte Stringer, executive vice president with U.S. Risk Inc. in Dallas, has been elected president of the Texas Surplus Lines Association Inc. for the coming year. Stringer and other new officers and directors of the...
Texas Supreme Court Agrees to Rehear Exxon Abandoned Wells Case
Nov 23 2009 // The Texas Supreme Court says it will again hear arguments in the nearly 15-year legal battle over accusations that Exxon Mobil Corp. loaded abandoned wells with junk, sludge and even explosives to keep other companies from...
Texas Mutual Pays $760K Dividend to Green Industry Group
Nov 20 2009 // Texas Mutual Insurance Company announced a $760,070 dividend to the Texas Green Industry (TGI) purchasing group. TGI has earned $2,643,037 in workers’ compensation dividends since 2005. Group dividends are based...
Texas Agent Volunteers for 7th Home Building Trip to Nicaragua
Nov 19 2009 // In 2005, when Cory Brooke, a partner of TCOR Insurance Management in Beeville, Texas, traveled to Nicaragua with other insurance executives as a volunteer for non-profit Bridges to Community, he was the only Texan in the...
National Lloyds Launches Texas Presidential Homeowners Product
Nov 18 2009 // Waco, Texas-based National Lloyds Insurance Company has introduced the Presidential Homeowners Program, targeting owner/primary residence properties in Texas. According to the company’s announcement, the new program...
Ratings Roundup: Employers, Germania Mutual, Lakeview
Nov 18 2009 // A.M. Best Co. has affirmed the ‘A-‘ (Excellent) financial strength rating and issuer credit ratings (ICR) of “a-” of Employers Insurance Group (EMPLOYERS) and its four P/C members, Employers...
State Farm Owes $310M in Refunds, Texas Regulators Say
Nov 17 2009 // The Texas Department of Insurance has ordered State Farm Lloyd’s (SFL) to refund a total of $310 million to policyholders after finding that the insurer had overcharged customers beginning in 2003. It’s a...
Unicare to Exit Group, Individual Healthcare Market in Illinois, Texas
Nov 17 2009 // Healthcare provider UniCare will effectively no longer be providing healthcare coverage to commercial groups and individuals in Illinois and Texas as of the end of the year. UniCare’s parent company, Wellpoint Inc.,...
Business Moves
Nov 15 2009 // Aon, Carpenter Moore Global insurance broker Aon Corp. has agreed to acquire Carpenter Moore Insurance Services, Inc., a provider of executive liability risk management services and a wholly owned subsidiary of The NASDAQ...
It Figures
Nov 15 2009 // $1 Billion The Army Corps of Engineers is launching a $1 billion project to protect the suburban West Bank of New Orleans from devastating floods. Some critics say the project may have the potential dangerous consequence...
People
Nov 15 2009 // Arthur Seifert has joined Southwest Insurance Partners Inc. (SWIP) as chief executive officer of Houston-based Bunker Hill Insurance Agency (BHIA), SWIP’s wholly owned underwriting agency subsidiary. Seifert has been...
New Markets
Nov 15 2009 // The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Commercial Construction Liability Market...
2009 Top Personal Lines Agencies
Nov 15 2009 // The following list is taken from the Insurance Journal Top 100 P/C/ Independent Insurance Agencies report published in Insurance Journal on Aug. 3. These agencies represent the leaders in total personal lines premium...
Marsh & McLennan Agency Acquires Insurance Alliance of Texas
Nov 12 2009 // New York-based Marsh & McLennan Agency, a subsidiary of insurance mega-broker Marsh Inc., has acquired Insurance Alliance, one of the largest independent insurance agencies in Texas. Terms of the deal were not...
Colorado Man Accused of Ponzi Scheme
Nov 12 2009 // A Denver man allegedly defrauded people in a national Ponzi scheme involving more than $12 million that was supposed to go real estate investments, the Colorado securities commissioner said Tuesday. Investigators contend...
Dean & Draper Insurance Acquires Two Texas Agencies
Nov 12 2009 // Houston’s Dean & Draper Insurance Agency LP announced it has acquired Wilco Insurance Agency Inc. and Always Safe Insurance Agency Inc. as part of an ongoing growth strategy for the Texas-based insurance...
Sparks to Lead Texas Fire and Casualty Insurers Association
Nov 12 2009 // Craig Sparks, president of Union Standard Insurance Group in Irving, Texas, has been elected president of the Association of Fire and Casualty Companies in Texas (AFACT). Sparks, whose term as AFACT president runs for two...
