The Comptroller of Public Accounts in Texas is planning an appeal of a Third District Court ruling that found Dow Chemical Co. did not owe the comptroller taxes on independently procured insurance. The Comptroller’s move ultimately attempts to overturn a …
Greenwich, Conn.-based W. R. Berkley Corp. announced the commencement of a public offering of 2,700,000 shares of its common stock, proceeds from which are to be used to provide additional capital for its insurance subsidiaries and for general corporate purposes.
Progressive Corp. announced that Charles B. Chokel, executive vice president and chief investments and capital officer, has left the company. Progressive gave no reason for Chokel’s departure.
Rackley Systems released a new version of its comparative commercial lines rating software—Rackley Systems for Windows. The software is available in all 50 states. The new system features multi-tasking via the Rackley Navigator, which allows access to all Rackley rating …
Talks between Allstate Corp. and more than 300 of its captive agents to settle a long-running dispute over contractual changes have broken down. The insurer faces complaints regarding its 1999 plan to convert agent positions to independent contractor status. The …
Calabasas, Calif.-based Amwest Insurance Group Inc. announced it will reduce its workforce from 347 to about 255 and close branches as part of a strategic business reorganization plan. Under this plan, the company’s operations will be restructured in line with …
According to the International Maritime Bureau, modern day piracy is on the increase with a record 469 attacks on shipping reported last year, resulting in 72 deaths, 99 persons injured, and 26 missing in addition to significant cargo losses. Modern …
A Travis County grand jury has indicted Larry Wallace of Wallace Insurance Agency and Ruben Perez of Artisan Masonry for insurance fraud. The case, decided on Jan. 26, first surfaced when The Texas Workers’ Comp Insurance Fund uncovered a “shadow” …
In an effort to stay out of prison, suspended Louisiana Insurance Comm-issioner Jim Brown is using the same argument that worked for former Gov. Edwin Edwards. Brown claims the use of an anonymous jury during his insurance fraud trial in …
Austin-based William Gammon Insurance has unveiled its new Professional Employer Organization division. The PEO division offers small businesses with between 10 and 100 employees the flexibility and benefits usually only available to much larger companies. By contracting with a PEO, …
