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

America’s Best Independent Agencies to Work For

Salaries and Benefits Lead but Quality of People and Relationships Win Votes, Too The results are in from the 2010 Best Independent Insurance Agency to Work For survey by Insurance Journal. The owners of the Best Agencies to Work For …

People

Philadelphia Insurance Cos. promoted Christopher J. Maguire and Sean S. Sweeney to co-presidents. Maguire joined Philadelphia Insurance Companies in 1987 and has managed underwriting operations and production. In his most recent role as chief operating officer, his focus became building …

Stronger Economic Times Add to Recruitment Challenges

People are a company’s greatest asset. Yet finding the right people is often challenging, particularly in the insurance industry. While the economic downturn put a hold on hiring for many firms, the seemingly steady recovery of the U.S. and Canadian …

Declarations

Interlinked Failures “A complex and interlinked series of mechanical failures, human judgments, engineering design, operational implementation and team interfaces came together to allow the initiation and escalation of the accident.” —A report issued by BP Plc failed to identify any …

Washington Working Harder to Combat Insurance Fraud

In advance of a rate announcement expected in this month, Washington’s Department of Labor and Industries is strengthening fraud fighting efforts, helping distressed employers and driving down costs internally through efficiencies. The agency recently has faced criticism for its rates …

Business Moves

Monarch E&S Monarch E&S Insurance Services opened new offices in Hawaii and Arizona. The Hawaii office, located in Waikoloa, will be operated by company CEO Derek Borisoff. The Arizona office, located in Chandler, will be run by Senior Underwriter for …

Slip and Fall Cases: What Businesses Need to Know to Minimize the Damages

It’s a scenario that plays out in countless grocery stores, convenience stores, even restaurants and fast food chains, around the country. A person slips on the floor and a lawsuit springs up seemingly before the plaintiff even hits the ground. …

It Figures

$8.3 Million The Fourmile Canyon fire burning in Colorado, which crept to within 5 miles of Boulder, has been dubbed the “most destructive wildfire in Colorado history.” As of press time, the fire destroyed 172 structures and incurred $8.3 million …

University Study of P/C Insurers Finds Bad CEOs Can Wreck Companies

When companies go out of business, their leaders often blame something other than their own performance for the failure. Lehman Bros.’s CEO Richard Fuld said his compensation package had nothing to do with his firm’s death in 2008. Ken Lay …

What to Watch in the World of D&O

Every year it’s worth noting the list of the current hot topics in the world of directors’ and officers’ liability. As should be obvious from this year’s list, there is a lot going on now, with further changes ahead. Here …