Monthly Archives: <span>March 2005</span>

Aon Settles Corruption Probe with 3 States for $190 Million; Complaint Cites Involvement of Top Execs

New York Attorney General Eliot Spitzer and Acting New York State Insurance Superintendent Howard Mills, together with Connecticut Attorney General Richard Blumenthal, Illinois Attorney General Lisa Madigan and Illinois Acting Director of Insurance Deirdre Manna, today announced an agreement with …

R.I. Judge Orders Nightclub Owners Pay Workers’ Comp Benefits to Families of Employees Killed in Fire

Rhode Island Workers’ Compensation Court Judge Bruce Q. Morin has ordered the owners of the West Warwick nightclub The Station to pay lost wages and funeral expenses to the families of four employees who were among the 100 who died …

NCOIL Task Force on Terrorism Backs TRIA’s Reinstatement

With the Terrorism Risk Insurance Act expiring at the end of this year, the National Conference of Insurance Legislators Task Force on Terrorism agreed during meetings in Hilton Head, S.C. to resurrect a resolution proposed last year urging congressmen not …

As Mich. Agents Gather, Industry Finds Itself in Crosshairs

GRAND RAPIDS, Mich.—The vote by the Michigan Legislature’s Joint Committee on Administrative Rules to file a notice of objection to Democratic Gov. Jennifer Granholm’s rule banning the use of credit scores in underwriting was perhaps symbolic of where the Wolverine …

MULTICO and IBQ Announce Settlement of Dispute

Seattle, WA: MULTICO Rating Systems Incorporated and IBQ Systems LLC announced today the settlement of a legal dispute between the two companies. IBQ has agreed to pay MULTICO an undisclosed sum to close the matter. Officials at both companies declined …

Jardine Lloyd Thompson Secures Lloyds of London Ins Protection to Financial & Healthcare Sectors as Identity Theft Grows

London: JLT Risk Solutions Ltd and Jardine Lloyd Thompson LLC, part of Jardine Lloyd Thompson Group plc (JLT.LN) said today insurance capacity has been secured within the Lloyd’s of London market to provide new insurance protection for two of the …

Vanguard Fire & Casualty to Meet with Fla. CFO Regarding Hurricane Claims

On Thursday morning, Florida’s Chief Financial Officer Tom Gallagher held a news conference and expressed his desire to meet “eyeball-to-eyeball” with the heads of insurance companies to discuss open hurricane claims. Five insurance companies were named including Vanguard Fire & …

Liberty Mutual Opens First On-Shore Rent-A-Captive

Liberty Mutual has now received regulator approval to set up captives in the United States through its Vermont-based Liberty Mutual Management LLC office. Liberty Sponsored Insurance (Vermont) Inc. will serve as a rent-a-captive facility for businesses seeking an alternative to …

Academy to Study High-Performance Agencies

The National Alliance Research Academy will once again be conducting its Growth and Performance averages will be provided, as well as high- performance standards for agencies in the top 25 percent of their class. In the same way a GPS …

Plymouth Rock Names Reardon in Conn., Scafidi in Northern Mass. to Marketing Posts

Plymouth Rock Assurance Corporation, a Boston-based auto insurer, has appointed Daniel J. Reardon as marketing supervisor for Connecticut. The compay has also appointed Michael J. Scafidi as senior marketing representative in nortern Massachusetts. In his new assignment, Reardon will report …