InsureTrade.com went live today, hoping to integrate all of the parties necessary to a fully serviced insurance policy – the policyholder, the agency issuing the policy and the underwriter. InsureTrade will provide permanent documentation of all communications between the parties …
American Union Insurance Co. has renewed its takeover bid for Meridian Insurance Group, offering $25 a share to acquire 50.1 percent of the Indianapolis property/casualty insurer. That’s an increase of $5 per share over the American Union offer rejected just …
AIG Chairman M.R. Greenberg said, “We wish Evan the very best in his future endeavors.” The reason for Evan Greenberg’s departure was not made immediately available.
MarketScout is a subsidiary of Insurance Data Systems (IDS), a Dallas-based insurance e-commerce holding company. MarketScout selects just one “Best of Class” insurance company for each of its 370 industry segments. Currently, over thirty insurance companies’ programs can be accessed …
Credit General Insurance Company and Credit General Indemnity Company are no longer writing new business, effective immediately. Henry C. Sibley, vice president of underwriting, sent a letter to agents on Sept. 15 stating that: “No new business will be bound, …
The General Accounting Office (GSA), Congress’ investigation agency, is scheduled to release a report today to a House subcommittee blaming state regulators for failing to prevent fugitive financier Martin Frankel from defrauding an estimated $200 million from insurance companies he …
Despite expected losses from 1997 through this year, Standard & Poor’s reaffirmed the Lloyd’s insurance market’s A+ insurer financial strength rating. S&P cited Lloyd’s “very strong business position” as one of the prime factors in setting the rating. “Lloyd’s has …
You know how I love to get e-mails from PR people telling me how I can’t live without their services, technologies or websites (yes, that was dripping sarcasm). Well, that’s what happened the other day when I received an e-mail …
A Cease & Desist Order, issued by acting California Insurance Commissioner J. Clark Kelso, was served Aug. 30 on the Winters, Calif.-based Puget’s Sound Agricultural Society Ltd. (aka: Jesus Christ Administrators) by investigators for the California Department of Insurance (CDI). …
On Sept. 5, California Governor Gray Davis signed into law AB 393, the state’s new agent licensing law. Sponsored by Assemblymember Jack Scott (D-Altadena), AB 393 requires anyone transacting insurance to meet specified minimum professional standards. The law also creates …
