“We are lucky.” —Warren Buffett, as he addressed thousands of shareholders at Berkshire Hathaway’s annual meeting in his hometown of Omaha, Neb., on May 2. He said insurance, along with utilities, another big business for Berkshire, are sectors “relatively unaffected …
The use of credit scores by insurance companies in rating methodologies continues to be unresolved in several Midwest states, as evidenced by ongoing court battles and legislative actions aimed at tweaking existing laws. Michigan’s battle against credit scoring in insurance …
64% The percent of consumers who are “very or extremely likely” to keep their vehicle longer due to economic conditions, according to a poll from R. L. Polk & Co. The average expected ownership period rose from a little more …
Phenix Mutual, Motorists Mutual Concord, New Hampshire-based Phenix Mutual Fire Insurance Co. announced that it will become an affiliate of The Motorists Insurance Group, upon approval by regulators in New Hampshire and Ohio, where Motorists is headquartered. Phenix, which operates …
W. R. Berkley Corp. appointed Richard M. Baio to the newly created office of vice president – treasurer. He will manage the investment accounting and tax departments, global currency, banking relationships and all related treasury functions. Baio, 40, has over …
The Property Casualty Insurers Association of America (PCI) is praising a recent decision by the Pennsylvania Supreme Court that it says upholds the plain meaning of insurance contracts. The Supreme Court’s, in Ace American Insurance Co. v. Underwriters at Lloyds …
Insurance agency managers could learn a lot from a beet-farming, volunteer sheriff and paper salesman like Dwight Schrute. Schrute, the character played by Rainn Wilson on NBC’s “The Office,” is an oddball whose eccentricities and awkward interactions leave his coworkers …
The Price of Feedom “What else is new; it’s New Jersey. Raise fees, that’s all we do.” —Sean Tomlin, of Millville, New Jersey, commenting on dozens of proposed fee hikes for motor vehicle operators in the Garden State. The Motor …
Marsh & McLennan Cos. Inc. has agreed to pay $2.4 million to the state of Connecticut to settle claims of bid-rigging, price-fixing and receiving kickbacks. State Attorney General Richard Blumenthal says the deal settles his 2005 lawsuit against the firm. …
The Hartford Hartford Financial Services Group Inc. is reportedly trying to sell its property/casualty insurance business, as it reels from massive losses, according to Reuters. The Hartford has retained Goldman Sachs to begin vetting potential buyers, which include Allianz, MetLife, …
