Contingent commissions based on insurer profitability align the interests of independent agents, brokers and the insurer so correct pricing of policies is achieved, thereby alleviating adverse selection, reports a new study by two Wharton School of Business professors. The research …
Joint efforts of insurance and banking regulators over the past several years have provided the foundation for effective communication and coordination between the state insurance departments and the Federal Reserve System, as envisioned by the Gramm-Leach-Bliley Act, according to the …
Standard & Poor’s Ratings Services lowered its long-term counterparty credit and senior debt ratings on American International Group Inc. to “AA” from “AA-Plus.” S&P also removed the New York-based insurance company from its credit watch list for these categories. The …
The reader comments listed below were posted on Insurance Journal’s Web site. You may review any referenced article by visiting www.insurancejournal.com. Compensation * East News * May 23, 2005 Do we restrict multi-national companies from making profits? Is it wrong …
The Top 20 Property Liability Insurers in Contingent Commissions Paid (By Amount) 2003 Allstate Insurance Group 24,636,888,000 46,424,905,300 412,926,543 2,305,678,358 St. Paul Travelers Group 19,940,095,000 74,686,675,139 387,089,768 2,824,499,841 Chubb & Son Inc. 9,536,875,000 28,414,135,453 228,970,380 1,137,569,338 Nationwide Corp. 13,741,884,000 33,860,032,440 …
At last month’s ACORD LOMA Insurance Systems Forum in Lake Buena Vista, Fla., Microsoft announced its new “experience Insurance” Initiative, designed to help insurance companies differentiate their brand, increase market share and profitability. More than 35 vendors and Microsoft partners …
So just how does an industry respond to negative publicity? A number of companies involved in the insurance world have had to answer that question regarding the broker contingent commissions crisis, which has grabbed headlines and put companies on the …
Few professionals understand more than insurance agents how unprepared Americans can be for life’s dangers. A new survey confirms agents’ fears about their own customers. It shows ours to be a nation of citizens who while worried about illness, accidents, …
A reported 15 homes are said to be destroyed on June 1 in Laguna Beach, California, due to a landslide in the Bluebird Canyon area, according to the Los Angeles Times. Only minor injuries have been reported. Approximately 20 homes …
WASH. CLIENTS ELIGIBLE FOR $14M FROM MARSH: More than 15,000 Washington businesses, associations, individuals and other organizations reportedly qualify for nearly $14 million in restitution offered by the nation’s largest insurance brokerage firm to settle allegations of fraud and anti-competitive …
