Insurance officials in Florida, where a spate of hurricanes have set the industry into turmoil, pitched the idea recently of multistate insurance pools for natural disasters to their colleagues from across the nation but reaction was cautious among some of …
U.S. District Judge L.T. Senter Jr., the federal judge weighing competing plans to resolve thousands of disputed claims in Mississippi against State Farm Fire and Casualty Co. after Hurricane Katrina, held a hearing earlier this month on the terms of …
Last November, then-New York Attorney General Eliot Spitzer notified four insurance companies that they could no longer pay contingent commissions to agents and brokers who sell automobile, homeowners and certain other insurance products. The four companies — ACE, AIG, St. …
The Chartered Property Casualty Underwriting Society and American Institute for CPCU/Insurance Institute of America designate March as “Ethics Awareness Month.” Some people have a difficult time defining ethics, but ethics are really principles, right? We often get caught up in …
Massage business owner pleads guilty A Glendale, Calif., skin care and massage business owner has pleaded guilty after California Department of Insurance (CDI) investigators found she was filing claims for acne and chiropractic treatments when her clients were getting facials …
Wedding Insurance Nuts & Bolts: Travelers recently launched Wedding Protector Plan, which provides coverage with no deductible for a variety of unfortunate occurrences associated with a wedding event. For example, coverage is provided if a hurricane causes the necessary and …
Insurance agents and brokers constantly deal with customers’ personal information. Yet many in the industry may not be aware of the legal requirements for handling or storing this information. How should agents and brokers collect and handle sensitive information? The …
When underwriting farms and ranches, it’s important to understand the subtle nuances in risk. After all, a loss to either could mean the policyholders not only have damage to their home, but also to their livelihoods. Insurance agents and brokers …
Products from cloned animals, such as milk and meat, may be safe to eat, but that doesn’t mean there aren’t insurance risks. The problem is that it’s somewhat too soon to tell what claims could arise, and potentially no coverages …
Markel Insurance Co. named Thomas K. “Smitty” Smith vice president of marketing. Smith joins Markel after three years as senior vice president and managing director of the Richmond, Va., branch of Riggs, Counselman, Michaels & Downes, which he established. AIR …
