The National Auto Agents Alliance (NAAA), which had announced plans to file suit against several insurance companies that had been cutting commissions, will comply with the wishes of several state insurance departments which have requested that the NAAA attempt to …
Commercial insurance premium rates surged forward last quarter with double digit increases in the five property/casualty lines, according the Council of Insurance Agents & Brokers 2nd quarter Commercial P/C Market Index. Data show less than one percent of all survey …
San Antonio-based insurance and financial services company, USAA, is continuing its process of restructuring with the layoffs of some 648 employees, according to the San Antonio Express-News. Although the company has not publicly announced the layoffs, the Express-News indicated that …
Eight people, including six chiropractors and a physical therapist, have been convicted and sentenced for allegedly participating in a massive healthcare fraud scheme against the Texas Workers’ Compensation Insurance Fund (Texas Fund). The convictions followed a two-year undercover sting operation, …
Changes in licensing provisions in the Texas Insurance Code are scheduled to become effective Sept. 1 and the Independent Insurance Agents of Texas has posted information on its website about how these changes may affect agency operations. According to information …
One burdensome fact of professional life for agents is that the industry may be the unrivaled champion when it comes to accessing and maintaining consumer information. This information can come from a variety of sources ranging from the ISO “All …
The insurance industry is beginning to utilize technology to more efficiently conduct business, but that integration is a long, slow process, according to a panel of wholesalers and market leaders. Shand Morahan & Company Inc. recently hosted a live teleconference …
Jim Hickey, the founder of the Environmental Insurance Agency in Portland, described environmental claims in general and asbestos claims in particular as “the shroud over the industry,” or harbingers of impending doom. Hickey, like everybody else, expected asbestos-related claims to …
As the Atlantic hurricane season’s second named storm has faded into memory, hurricane forecaster William Gray predicts two more named storms in the Atlantic Ocean and Gulf of Mexico during the month of August. One of those, said Gray and …
In the last 18 months, rapidly escalating asbestos claims have caused several Fortune 500 companies to seek bankruptcy protection including Owens Corning (October 2000), Babcock & Wilcox (February 2000), Armstrong World Industries (December 2000), G.I. Holdings (fka GAF Corp. (January …
