Contingent commissions “It is grossly unfair to impose contrived restrictions on the ability to compensate producers in a legal and honest manner … PIA believes that authorities should be prohibited from using their settlement powers to bring about a ban …
St. Paul Travelers said Dec. 1 that it will stop renewing many commercial insurance policies in the New Orleans area next year, stoking fears that other insurers are prepared to pull out of the market after Hurricane Katrina. The state’s …
Monoline Auto Classes, Small Commercial Nuts & Bolts: Zurich’s small business agents now have more than 500 monoline auto classes to sell. The company has opened an additional 257 existing America Premier classes for monoline auto and added 238 new …
For regional carriers, predictive modeling is about more than pricing New analytics mean more than better pricing; they bring regional insurers closer to their agents and attract new business Frank J. Coyne, chief executive officer of Insurance Services Office, recently …
Contingent commission ban “Many industries — not just the insurance industry — rely on performance-based compensation, which is legal, honest and brings many benefits to the insurance marketplace, as it does to our entire American economy. Eliminating all contingent compensation …
News Currents Home insurers in Connecticut may no longer require permanently installed storm shutters as a condition for writing or renewing policies but must offer consumer choices of loss mitigation controls and deductibles, according to a report on coastal insurance …
Rhode Island’s highest court has declined to rule on whether state lawmakers have any remaining role in appointing members, or approving gubernatorial appointments, to the board of the state’s largest workers’ compensation insurance carrier, Beacon Mutual Insurance Co. Senate Democratic …
From almost the moment Gramm-Leach-Bliley was signed into law in late 1999, discussion turned to the question of state or federal regulation for insurers. Debate continues with participants anxiously assessing the impact of this year’s election results on their interests. …
News Currents Insurance executives would likely create a replacement incentive should lawmakers in Connecticut ban contingent commissions, as the state regulator has warned could happen. Executives voiced their dismay over possible legislation to ban incentive pay at the recent meeting …
$1.07 million The fine imposed against the owners of Rhode Island’s The Station nightclub for failing to carry workers’ compensation insurance at the club, the site of a 2003 fire that killed 100 people. Owners Jeffrey and Michael Derderian sought …
