First Federal Savings Bank, in Monessen, PA, recently purchased a majority ownership in Exchange Underwriters, Inc., an insurance agency in Canonsburg, a suburb of Pittsburgh. The financial terms of the acquisition were not disclosed. The announcement of the acquisition by …
After months of discussion, and a last minute compromise which assured that State Farm will continue in New Jersey’s automobile insurance market for at least the next three years, Legislators have finally introduced a bill aimed at reforming the state’s …
Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division announced the arrest of two Sutter County area residents on one felony count of insurance fraud each and violations of the Revenue and Taxation Code. There are …
To combat isolated and lower dollar amount instances of insurance fraud, the Arizona Department of Insurance Fraud Unit is implementing a citation-in-lieu-of-detention program on August 1, starting in Maricopa County. Those who commit single, lower dollar amount acts of insurance …
Two Progressive Insurance Company representatives from Kentucky and Arkansas who happen to share the same first and last name, have been named by their respective state association of Professional Insurance Agents (PIA) as Company Representatives of the Year for 2002. …
Arrowhead General Insurance Agency of Texas Inc. has a new commercial automobile program for Texas agents. Target classes include artisan contractors, wholesale/manufacturing/industrial, heavy construction, local and intermediate trucking, oil and gas related, business/personal services, retail related and agricultural related classes …
Texas Mutual Insurance Co. policyholders elected four new board members at the workers compensation insurer’s first policyholder meeting. Over 5,000 policyholders voted either in person or by proxy to elect Judy Broussard, Jose Cuevas Jr., James D. Ross, and Charles …
The Central Texas Chapter of Chartered Property Casualty Underwriters (CPCU) announced the newly elected officers for 2002-2003: president—Philip R. Ballinger, Surplus Lines Stamping Office of Texas; president-elect—Ann L. Dunham, State Farm Insurance Group; vice president—Jay R. Waddell, Texas Municipal League; …
Scottsdale, Ariz.-based Kemper Insurance Company made several recent appointments. John Mahoney was named president of KEMPES, a unit that underwrites specialty program business. Mahoney joined KEMPES in 1999 to lead the start-up of a new P&C division in Denver that …
Travelers Property & Casualty and Citigroup Inc. recently announced that they would suffer only modest exposures from telecommunications company WorldCom’s accounting scandal. According to a press release from Travelers, CFO Jay S. Benet said “the company has determined that this …
