News Currents Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months. The net gain on underwriting through nine-months …
Arthur J. Gallagher & Co. has agreed to resolve all claims in the Federal Multi-District class action pending in the New Jersey Federal District Court against commercial insurers and brokers relating to industry-wide contingent commission matters. In its written statement, …
It’s the ogre hiding under the bridge. And a hungry ogre at that. The owners of many small- to mid-sized companies hope to tip-toe by without incident, but there is no ignoring the potential for trouble. The number of legal …
We can assume that today’s litigious employment environment makes it easy for agents and brokers to demonstrate the value of employment practices liability insurance (EPLI) to large employers, but is there value in purchasing EPLI for an employer that is …
News Currents The attorneys general of Connecticut, Illinois and New York continued their campaign against undisclosed compensation and account steering by simultaneously bringing suit against one of the nation’s largest insurance brokers. The suits were bought against Acordia Inc. and …
Despite Katrina lessons, Congress keeps extending flood insurance The federal flood insurance program may be going broke after incurring $20 billion in debt from recent storms like Hurricane Katrina. But that hasn’t stopped politicians from trying to extend the taxpayer-subsidized …
People ring in the New Year with all sorts of traditions. New Yorkers drop a Waterford crystal ball in Times Square. Japanese families shoot off fireworks to keep evil spirits away. And in the South, a meal of cornbread black-eyed …
Reinsurance rates for the property/casualty industry are falling or flat, except for insurers with major property wind exposure along the Gulf and East Coasts, where rates are still rising. That is one key finding from an annual international reinsurance review …
Robert M. Hoye, formerly of Arrowhead General Insurance Agency, died peacefully of natural causes on Dec. 15. Hoye was born in Harvey, N.D. He served in World War II and was honorably discharged following his tour of duty. He received …
Drive Insurance from Progressive lowers auto rates in Colorado The Drive Group of Progressive Insurance Companies is lowering auto insurance premiums in Colorado by an average of 5.2 percent for new customers effective Sept. 6 and existing customers effective Oct. …
