Monthly Archives: <span>April 2010</span>

New York City Agents Vow Suit over Compensation Rules

A trade group for New York City insurance agents says it is launching a legal challenge against the state’s insurance department over new rules that would require agents to disclose their pay to customers. Directors of the Council of Insurance …

Florida CFO Recovers $4.4 Million for Insurance Consumers

Florida insurance consumers have recovered more than than $4.4 million since January from insurance companies with the help of the state. Citing an example, CFO Alex Sink said that a Naples homeowner contacted the Department of Financial Services when he …

Florida’s American Integrity to Sign Insureds of Failed Northern Capital

Tampa-based American Integrity Insurance Co. said that it would provide insurance coverage for up to 20,000 of the 62,000 customers of Northern Capital Insurance Co., which is being liquidated. American Integrity said it is sending letters to its 2,600 insurance …

MetLife Pays $13.5 Million to Settle U.S. Contingent Commission Case

MetLife Inc., the largest U.S. insurer, has agreed to pay $13.5 million to resolve a federal government investigation into improper payments made to a San Diego-based insurance broker, the U.S. Justice Department said on Thursday. It said the millions of …

European Insurers Expect Little Hit from Volcano Fallout

Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance companies. “Normally, the airlines are not …

Scanlon, Guerra, Burker Insurance Brokers Adds Russell as Senior VP

Scanlon, Guerra, Burke Insurance Brokers of Woodland Hills, Calif., announced that it is becoming the master broker for California’s exclusive workers’ compensation self-insured group of home improvement and general retail stores, and added Rusty Russell in the position of senior …

Sexton Joins Norman-Spencer and Western Marine Insurance Services

Norman-Spencer and Western Marine Insurance Services announced that Paul Sexton has joined the organization as vice president of boat/yacht product development and distribution. He will be responsible for the development of a new boat/yacht program and national distribution strategy, primarily …

Zenith To Announce Q1 Results on April 21

Woodland Hills, Calif.-based Zenith National Insurance Corp. announced that it plans to release first quarter 2010 financial results on April 21, 2010, during market hours. For more information, visit www.thezenith.com

Insurer Wins Appeal in Lead-Contaminated Chinese Toy Case

A federal appeals court has ruled that an insurance company has no duty to defend against class action lawsuits filed in Illinois targeting the company’s insured, a Chinese manufacturer of toys sold in the United States that were found to …

Sweethearts in Crime: Rise in Married Couples in Securities Fraud

Jeffery Stone and his wife Janette Diller Stone, one-time operators of a now-defunct New York investment firm called Crescent Fund, are not on any government most wanted list. And they aren’t exactly hiding, either. But the former Greenwich, Connecticut, residents …