Updating its previously announced revenue expectations for the second half of fiscal 2000, Redwood City, Calif.-based InsWeb raised its previous outlook of $8 million to now exceed $9 million. Hussein Enan, InsWeb CEO, credits a faster geographic expansion by four …
Newly inaugurated Insurance Commissioner Harry Low announced plans yesterday to reorganize the California Department of Insurance (CDI). Low, who has been meeting with employees in the CDI’s offices in San Francisco, Los Angeles and Sacramento, said the streamlining changes will …
Singleentry.com, an Internet-based process service provider to the property and casualty insurance industry, has reached an agreement with A.M. Best to give members of singleentry.com instant access to the A.M. Best Ratings and Company Reports. The reports will be available …
CNA Personal Insurance has changed its name to Encompass Insurance, pledging to sell only through independent agents. Independent agents represent one third of the personal lines insurance market and $45 billion in annual premium. Encompass sells through a network of …
Just 10 months after selling his company to Des Moines, Iowa-based insurer GuideOne, Clifton Robinson is buying it back. Robinson, the previous owner of National Lloyds Insurance Co. in Waco, Tex. signed a definitive agreement with GuideOne late last week …
A former associate Martin Frankel has pleaded guilty to charges in Tennessee for his part in Frankel’s alleged plan to defraud insurance companies of millions of dollars. John Hackney, 50, pleaded guilty Wednesday in Tennessee to federal conspiracy and money …
Two class action suits, one filed by Cauley & Geller, the other by Milberg Weiss Bershad Hynes & Lerach, have been filed against Insurance Management Solutions Group on behalf of all individuals and institutional investors that purchased securities pursuant or …
Lincoln National Corp. announced that it was transferring its U.K. sales force of approximately 1000 to the Inter-Alliance Group Plc, an independent financial advisory group, after the failure to conclude a sale of its U.K. based business to an unnamed …
Federal Insurance Company, a subsidiary of The Chubb Corp., officially opened a wholly owned branch office in Shanghai to “focus on the non-life insurance market for foreign-invested enterprises in Shanghai.” In attendance at the ceremony were Joseph Prueher, the U.S. …
Hiscox Plc, which does business independently and in the Lloyd’s market as syndicate 33, saw 1st half profits drop to £100,000 ($146,000) from £1.4 million ($2.04 million) in the same period last year as a result of losses at Lloyd’s …
