HARTFORD GETS A LIFE
The Hartford Financial Services Group has agreed to make a cash tender offer for all of the publicly held shares of Hartford Life Class A Common Stock for $50.50 a share. The transaction is expected to be completed within 30 …
SHOOT-OUT CONTINUES
A Michigan state judge refused last month to throw out a suit against more than 30 gun manufacturers and dealers that seeks $400 million in damages. Circuit Judge Jeanne Stempien denied the motion brought by the manufacturers and dealers to …
GLAD HE MET YA’, AETNA
Michael J. Cardillo, president of Aetna U.S. Healthcare, is retiring after 14 years with the company. Cardillo, 57, joined U.S. Healthcare in 1986 and became head of the combined company’s health care division after merging with Aetna in 1996. In …
GREENBERG MOVES ON UP
Jeffrey W. Greenberg has been elected chairman of Marsh & McLennan Companies, succeeding A.J.C. Smith who is retiring but will retain a seat on the company’s board. Greenberg, 48, became president of MMC in January 1999 and chief executive officer …
FRONTIER SELLS REGENCY
Frontier Insurance Group has entered into a definitive agreement to sell Regency Insurance Company to Tomoka Re Holdings Inc., an affiliate of Tower Hill Insurance Group. Located in Charlotte, N.C., Regency underwrites specialty personal lines and markets non-standard auto and …
SAFECO PARTNERSHIP
First Media Insurance Specialists has recently become the media liability program administrator for SAFECO Property and Casualty Companies. First Media policies offer coverage against known and unforeseen media liabilities through an “open peril” policy. The company, based in Kansas City, …
PRU CALLED BACK TO COURT
Three law firms have filed a nationwide class action against the Prudential Insurance Company of America and its health care subsidiaries that were recently been sold to Aetna. The case, Romero v. Prudential Insurance Company, alleges that Prudential and its …
RECIPROCAL LICENSING
Missouri has become just the second state this year to pass legislation streamlining insurance producer licensing, action that 27 other states must take by November 2002 to meet a federal mandate. Legislators also defeated bills that would have restricted the …
INSURECONNECTION.COM
InsureConnection.com has launched its new site for insurance shoppers, allowing online consumers to compare personal insurance quotes from a variety of companies. Quotes are currently available for life, auto and property, with additional products and insurers to be added in …
MARYLAND DEREG BILL
Maryland Gov. Parris Glendening signed legislation last month removing form-filing requirements for commercial insurers and sophisticated clients. Senate Bill 598 exempts some large commercial policyholders from obtaining prior approval for forms. The bill also exempts policies of certain sophisticated policyholders …
