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

Business Moves

Fiesta Auto Huntington Beach, Calif.-based Fiesta Auto Insurance, a franchise system to combine insurance and tax preparation under one roof, announced it has opened 20 new locations during the past 90 days. The company’s unprecedented growth phase has increased its …

It Figures

$50 Million The total amount in auto insurance refunds that insurers began mailing this month to about one million North Carolina insureds. The distribution is a result of the 2009 auto rate settlement with the insurers’ rating bureau that Commissioner …

Mississippi Gets New Property Insurer: Coastal American

A newly-formed Mississippi company with backing from a Florida insurer and local private investors including six independent agencies will begin writing homeowners policies on the coast in Mississippi. Gulfport-based Coastal American Insurance Co. says it will give coastal Mississippians a …

North Carolina Weighs Storm Mitigation Credit Proposal by Homeowners Insurers

Insurers in North Carolina are preparing to offer premium credits to homeowners who implement storm mitigation improvements. On behalf of insurers, the North Carolina Rate Bureau has filed a proposal with the Department of Insurance to provide credits to homeowners …

The Ethics of Stealing Business From Competitors

You are on an airplane and you strike up a conversation with the person next to you. She is the decision maker of a company that buys your competitor’s products. You have such a great exchange that she asks for …

Florida #1 in Staged Accident Claims

Suspicious insurance claims from staged accidents are on the rise- and nowhere more than in New York and Florida, two states with no-fault statutes. Georgia and North Carolina are also among the top states. Overall, the number of questionable claims …

Businesses, Interrupted

All around the Gulf Coast, fishermen, motel owners, restaurateurs and other small businesses justifiably are concerned about what the future may hold as a result of the Deepwater Horizon oil spill off the coast of Louisiana. Lawsuits are beginning to …

26.4% The U.S. Department of Agriculture said crop insurance companies posted profits of 26.4 percent last year, and the federal government wants to reduce its spending on crop insurance. Participating farmers pay premiums but the government subsidizes the program to …

Business Moves

Western National, American Mutual Western National Insurance Group of Edina, Minn., plans to affiliate with Wisconsin American Mutual Insurance Co. of Fond du Lac, Wis. The transaction is expected to close before fall 2010. Wisconsin American is expected to continue …

Nationwide Insurance to Hire 1,400, Including 600 in Ohio

Nationwide reported first quarter net income of $396 million compared to a net loss of $106 million during the same quarter a year ago. Nationwide Mutual Insurance Co. announced it will fill 1,400 job openings, including about 600 in its …