Speak Up if You Care …
The Case for Risk Management and Insurance Education If you’re like most insurance firms, your workforce is aging. Or, as a friend of mine recently put it, “There’s a lot of gray hair in the room.” Not that there’s anything …
The Spitzer Error
Liberty Mutual downplayed its recent victory when the New York Supreme Court declared that contingent commission agreements are not illegal. “Contingent commission agreements between brokers and insurers are not illegal, and, in the absence of a special relationship between the …
Declarations
Fuel Economy or Safety? “More people may be looking at small pickups because of rising gas prices. Unfortunately, they won’t find many that afford state-of-the-art crash protection. Most earn dismal ratings for protecting people in side crashes, and all but …
Business Moves
Tokio Marine, Philadelphia Insurance Japan’s Tokio Marine Holdings, Inc. has agreed to acquire Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 billion. It is …
State Farm: 47.1% Florida Hike
State Farm Florida Insurance Co. filed an average 47.1 percent homeowners insurance rate increase with the Florida Office of Insurance Regulation. Ed Domansky, spokesperson for the OIR, said a public hearing will be held on Aug. 12 in Tallahassee. State …
People
Jacksonville, Florida-based insurer The Main Street America Group named Joe Meholic president of its Richmond, Virginia region. In his new role as regional president, Meholic will be accountable for the direction, management and performance of the Richmond region, which encompasses …
Challenges and Strategies for the 21st Century Independent Agency
The letter from the Palatine Insurance Co. to the independent insurance agency, written in the dawn of a new century began: “The insurance business is experiencing perilous and unprecedented challenges …” The date: 1921. As the saying goes, everything old …
Insurers, Agents Urge Coastal Wind Policy from Texas to Maine
Travelers, Nationwide Mutual and two leading national insurance producer organizations are supporting a plan they say will make private windstorm insurance more affordable and available in coastal areas. Federal legislation would be required to enact the outlined concept, which includes …
Declarations
Reasonable Care “In short, there is no allegation that any Delta employee failed to exercise reasonable care in the performance of his/her duty in any manner in respect to Flight No. 5191.” —U.S. District Judge Karl Forester in dismissing Delta …
Georgia Home Builders Association and Its Member Insurer Hammer Away at Each Other
A Georgia association of builders and the insurer that has offered workers’ compensation and general liability insurance exclusively to its members are at odds over the insurer’s attempt to end its exclusive arrangement and affiliate with another association. That move …
