InsurBanc, the federal savings bank developed by the Independent Insurance Agents & Brokers of America (IIABA) to serve agents and brokers as well as their clients, has won regulatory approval to expand its operations to 15 additional states—three on a …
A pair of Chubb Group insurers have agreed to pay $13.5 million to settle with Sunbeam Corp. shareholders who registered a fraud suit against the bankrupt appliance maker, according to the Associated Press. Filed five years ago, the class-action suit …
General Electric Co. has put on hold plans to split off its property-and-casualty insurance operations, according to a Wall Street Journal report. Earlier in the year, GE was talking about splitting off Employers Reinsurance Corp, which underwrites the risk of …
The Montana State Legislature should be skeptical of the Montana Workers’ Compensation State Fund’s (State Fund) proposal to privatize when lawmakers return for their Aug. 5 special session, according to the American Insurance Association (AIA). “The State Fund’s reorganization proposal …
The Colorado House gave initial approval July 10 to a Senate bill that would prohibit insurers from refusing to issue a fire insurance policy within a federally designated disaster area due to wildfire. The prohibition would not apply to property …
Mike Sterlacci of Sovereign Insurance Group was recently elected by his peers to Seattle-based SAFECO’s National Advisory Council. Sterlacci will help address strategic issues of national importance at SAFECO, while providing council leadership at the state and regional level.
The New Jersey Department of Banking and Insurance (DOBI) has issued guidelines for authorized companies concerning exclusions on “Mold/Fungus Coverage for Personal and Commercial Lines.” Commissioner Holly C. Bakke indicated that the DOBI’s Office of Property and Casualty “is currently …
According to a report from the Hartford Courant insurance premiums on child care centers, including summer camps and day care facilities, have recently risen between 10 and 20 percent in Connecticut and other states. The article indicates, however, that the …
A recently introduced bill that proposes to mitigate the effects of mold in homes and commercial buildings puts the proverbial cart before the horse, according to Independent Insurance Agents & Brokers of America (IIABA) spokeswoman Maria L. Berthoud. IIABA is …
The Ohio Department of Insurance has accepted an invitation to join NeighborWorks® National Insurance Task Force (NITF) as part of its mission to expand its role to increase accessibility and affordability of insurance services to customers in lower-income neighborhoods and …
