Yesterday, California Insurance Commissioner John Garamendi issued a press release briefly outlining proposed changes to his regulations regarding broker fiduciary duties (see Garamendi Unveils New Broker Disclosure Regulations). Insurance Journal has obtained a copy of the actual language of the …
The Insurance Council of Texas announced it has awarded scholarships to 16 university students. The University of North Texas scholarship recipients were Jeffrey Ambrose, Lauren Heger, Tracey Mallard and Wayne Moore, Jr. Dr. John Thornton, UNT Regents’ Professor of Insurance, …
Stating that the agent liability bill, Texas House Bill 2155, was heard recently in the House Insurance Committee, where trial attorneys attacked agents, trying to discredit the proposal, the Independent Insurance Agents of Texas encouraged agents to let legislators know …
Illinois-based RLI Corp. announced first quarter net earnings of $29.3 million ($1.12 per diluted share), which were 73% better than the $16.9 million ($0.65 per diluted share) reported in the same quarter last year. Quarterly operating earnings of $27.4 million …
Willis Group Holdings and American Wholesale Insurance Group Inc. (AmWINS) reported the closing of the previously announced acquisition by AmWINS of Stewart Smith Group, Willis’ U.S. wholesale unit. Terms of the transaction were not disclosed. “We are pleased that in …
In testimony today before the Senate Banking Committee, Ernie Csiszar, president and chief executive officer of the Property Casualty Insurers Association of America, outlined possible components of a long-term terrorism insurance solution and urged Congress to act quickly on such …
Policymakers concerned that producer compensation practices might result in higher prices for insurance consumers should “pay attention to regulatory requirements that have had that effect for years,” according to a senior official of the National Association of Mutual Insurance Companies. …
Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory filing. The disclosure came on Tuesday, the same day …
Connecticut Attorney general Richard Blumenthal said he would oppose the acquisition of Hartford-based Travelers Life & Annuity by MetLife Inc. because he said it is bad for his state’s economy. “This acquisition is against the public interest because it will …
Assicurazioni Generali SpA, Italy’s largest insurer, announced strong results for 2004 with net profits of 1.315 billion euros ($1.692 billion), slightly ahead of estimates and gross premiums of 56.3 billion euros ($72.47 billion) with a combined ratio of 100.9 percent. …
