Gambling man “Our investigation determined that Mr. Bowen created an elaborate scheme that diverted the premiums of dozens of customers into his personal bank accounts to fund gambling and other personal activities. To hide the theft, Bowen allegedly created fraudulent …
In the grip of a heat wave, the owners of a fruit farm didn’t suspect a mechanical problem when a 600 hp deep well pump started producing less water. After all, the temperature had been soaring for weeks and other …
The latest edition of the Growth and Performance Standards (GPS) study by the Austin, Texas-based National Alliance Research Academy has just been released, giving the insurance industry some new benchmarks for comparing independent agency performance trends. The GPS has been …
For the first time in two years the high and mighty from the reinsurance world gathered for their annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in 2004 and Katrina last year). …
The program administrator specialty market continues to grow, according to survey results by Guy Carpenter & Company Inc. More than 65 percent of survey respondents estimate the size of the program administrator specialty program market segment at between $20 billion …
Sir Isaac Newton’s third law of motion — “For every action, there is an equal and opposite reaction” — wouldn’t appear to have much to do with the insurance industry. If the Street thinks about it at all, it’s probably …
People are always on the search for the “deep pocket” and insurers are very often the target of such searches. A common fixture of the underwriting process for many insurers is the inspection of an insured’s premises to adequately evaluate …
The insurance industry has a well-earned reputation for stodginess. A vast percentage of today’s independent agents still employ conservative form letters and phone calls to attract the attention of small-to-medium-sized commercial prospects. Business has changed. In many instances, it has …
The National Association of Insurance Commissioners has adopted a model bulletin regarding training requirements for insurance producers who offer policies through the National Flood Insurance Program. This effort relates to Section 207 of the Flood Insurance Reform Act of 2004, …
Most Americans favor public policies that could help to mitigate the damage caused by catastrophic natural disasters before they happen, but many Americans remain unprepared for a disaster in their own homes and communities. Nine out of 10 adult Americans …
