Wells Fargo Insurance Services Inc., a bank-owned insurance brokerage and a subsidiary of Wells Fargo & Co., acquired the assets of Greensboro, North Carolina’s Professional Benefits Associates LLC. Professional Benefits Associates provides individual, fully insured and self insured group benefit …
Shares of American International Group Inc., the world’s biggest insurer, fell sharply Tuesday as investors worried that the company’s large exposure to mortgage markets could trigger the need to raise fresh capital. Investors, who have already weathered $25 billion in …
Norcross, Georgia-based NovaNet, a national preferred provider organization, expanded its offerings to include a national workers’ compensation network. With direct contracts in Alabama, Georgia, Florida, South Carolina and Tennessee and affiliate PPO relationships in other states, NovaNet is able to …
Taking aim at a longstanding rite of passage for 16-year-olds, an influential auto safety group is calling on states to raise the age for getting a driver’s license to 17 or even 18. Adrian Lund, president of the Insurance Institute …
The final defendants to settle lawsuits over a 2003 nightclub fire that killed 100 people have agreed to pay survivors and victims’ relatives more than $250,000, according to court papers filed earlier this week. Seven insurance companies and the former …
Independent insurance agencies affected by hurricanes and other catastrophes have access to a special loan program provided by InsurBanc, the bank founded by agents for agents. InsurBanc is offering special short-term loans for expenses related to floods, hurricanes and other …
“Canada’s property/casualty insurance sector is stable, but strong capitalization and profitability provide the ingredients for continued softening in the market,” indicates a new report from A.M. Best on the country’s insurance industry. Best also noted that “pricing is down across …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that it is set to “make a payout of approximately $6.3 million to the government of the Turks and Caicos Islands, within the terms of that country’s hurricane policy which was purchased …
The New York-based Navigators Group announced that its Lloyd’s Syndicate 1221 is now underwriting insurance coverage in China through the Navigators Underwriting Division of Lloyd’s Reinsurance Company (China) Ltd. (LRCCL). The establishment and recent licensing of LRCCL enables Lloyd’s syndicates, …
Bermuda-based Ironshore Inc. announced that it has completed the transaction with Chaucer Holdings PLC announced on July 1, 2008 to purchase Pembroke Managing Agency Limited, which manages Lloyd’s Syndicate 4000. “Mark Wheeler serves as Active Underwriter for the Syndicate,” said …
