A new California law went into effect Jan. 1, 2001, requiring insurers to provide insureds with an Auto Body Repair Consumer Bill of Rights. All insurers that issue automobile liability or collision policies must distribute the standardized form either at …
Through its fourth quarter 2000 Commercial Insurance Market Index, The Council reported commercial property/casualty premium rates across all lines of the business and group medical coverage rose significantly over the last year. The Index also shows rates continuing to climb …
For the 12 months ended Dec. 31, 2000, Argonaut Group Inc. reported a consolidated net loss of $83.3 million on total revenue of $209.9 million, compared with a consolidated net loss of $15.2 million on total revenue of $164.3 million …
A survey of consumers’ new car-buying attitudes conducted by Progressive Insurance finds that many people place a higher value on the looks of a new car than on its safety features. Ranked in order of importance to the consumer, the …
The Independent Insurance Agents of America (IIAA) and the National Association of Insurance and Financial Advisors (NAIFA) expressed opposition to the draft National Bank Act, which was recently proposed by the American Bankers Association Insurance Association. In a joint letter …
a move to enhance company efficiency, Hamilton, Bermuda-based ACE Ltd. announced its plans to divide its operations into two units. Various senior executive level duty changes were also announced. Dominic Federico, current president and COO of the company, will become …
The Franklin County Court of Common Pleas in Ohio granted a request for liquidation order filed by the Ohio Department of Insurance with respect to Credit General Insurance Co., which was placed in rehabilitation on Nov. 6, 2000. Also approved …
Chubb announced that it was reevaluating its options as a long-term investor in the Lloyd’s insurer Hiscox. Chubb currently has a 27-percent holding of Hiscox shares and had offered $3.087 a share, or $458 million, for the remaining Hiscox shares, …
Effective Jan. 1, 2001, the relationship between the American Agents Alliance and the National Auto Agents Alliance (NAAA) was officially terminated according to a resolution reached by the Alliance Board of Governors on Nov. 30. The resolution was the culmination …
Is it just me, or are we working more and talking less? By talking, I don’t mean those long, pointless meetings where goals are summarized in alphabetical order and mission statements are pummeled into submission statements; but really talking, as …
