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

Court Orders Employer to Repay $104K to Texas Mutual

Texas Mutual Insurance Co. announced that a Travis County district court sentenced Cheryl Bussey of Mansfield, Texas, on workers’ compensation fraud-related charges. Bussey was sentenced to 10 years’ deferred adjudication and ordered to repay $103,851 to Texas Mutual. Bussey was …

Illinois Insurance Agency, Agents Face Steep Fines; Licenses Revoked

The Illinois Department of Insurance revoked the insurance producer licenses of a Lake Bluff-based insurance agency and three insurance agents, including two from Antioch and one from Chicago, for the improper marketing and sale of life insurance to military personnel …

Westfield Group Names Clay New Group Leader, CEO

Ohio-based Westfield Group has selected James R. Clay as its next group leader and chief executive officer. Clay currently serves as insurance leader and president. He has served the company for more than 30 years in numerous capacities. Clay will …

Texas Public Entities Earn $200K from Work Comp Dividend Plan

The Board of Trustees of Texas Political Subdivisions JSIF has voted to approve $200,000 in workers’ compensation insurance dividend payments to member local government entities throughout Texas. Each public entity’s fund contribution, loyalty and loss ratio were factors in determining …

A.J. Gallagher Buys Remaining Interest in Australia’s Specialised Broking

Chicago-based global insurance brokerage firm Arthur J. Gallagher & Co. has acquired the remaining 60 percent equity interest in Specialised Broking Associates Pty. Ltd, (SBA) headquartered in Perth, Western Australia. Terms of the transaction were not disclosed. In October 2008, …

Upcoming Kansas Primary to Decide Next Insurance Commissioner

Experience and support for the new federal health care reform law are the defining issues in a Republican primary for Kansas insurance commissioner that will determine who holds the office for the next four years. Republicans also must pick nominees …

Frost Insurance Adds Bondurant as Commercial Practice Leader

Rick Bondurant has joined Frost Insurance Agency in Austin, Texas, as statewide Commercial Lines Practice leader. In this role, Bondurant is responsible for leading the planning, organizing and operating activities of the Commercial Lines Practice for the agency’s six branch …

Aon’s Q2 Results Boosted by Acquisitions, Brokerage Business

Aon reported net income of $153 million in the second quarter 2010, compared to $149 million for the prior year quarter. Net income from continuing operations increased 22 percent to $179 million, compared to $147 million for the prior year …

New Mexico Apoints Franchini Insurance Superintendent

The New Mexico Public Regulation Commission has appointed John G. Franchini Superintendent of Insurance by a 4-1 vote. Franchini, a New Mexico native, boasts nearly four decades of insurance industry-related experience and said he looks to use that experience to …

Florida Regulators Recover $11 Million for Insurance Policyholders

The Florida Department of Financial Services says it has helped recover more than $11.1 million for Florida’s insurance consumers in the first half of 2010. “Especially in these tough economic times, it is so important that consumers understand their rights …