The Future of Producer Compensation
It is a fact that many people with the title “producer” don’t produce. They service and they accept what comes to them, but they do not produce. It is also a fact that companies are going to find a way …
West Virginia to Start Auto Coverage Verification Program
The West Virginia Department of Motor Vehicles is taking steps to educate motorists about electronic verification of insurance coverage. Vehicle owners will soon begin receiving an informational insert when they get registration renewal papers in the mail. State lawmakers in …
Buy, Sell, Transition
Whether buying or selling a small business, most of the parties involved in such transactions increase spending, add products or services or switch vendors within the insurance industry during the transition process. That’s according to a new survey by BizBuySell.com. …
P/C Insurers, Brokers Added More Jobs, Data Shows
In early June, the U.S. Labor Department’s Bureau of Labor Statistics released detailed employment statistics for the month of April. The data shows that P/C insurers added 800 jobs in April, for the total of 526,300 workers. In a commentary, …
Business Moves – Southeast
WNS Global, South Carolina An Indian company is slated to open a new facility to process insurance claims and provide insurers other financial and accounting services that could create up to 750 new jobs in South Carolina. WNS Global Services …
Court Revives Employee Lawsuit Over Racist Receipt
A shoe store clerk who was fired after inadvertently giving a receipt containing a racial slur to a black customer has the right to sue her former employer for defamation, a federal appeals court ruled. The decision by the 8th …
Business Moves – East
American International Group AIG’s property/casualty division Chartis announced the launch of its hospitality and leisure industry practice group, which will provide specialized insurance and risk management products for the hotel, amusement, gaming, restaurant, resort and theme park segments. Chartis said …
Nature Groups Urge Florida Insurance Reform
Taking the position that Florida’s subsidized property insurance market is leading to over-development along the state’s coastline, wildlife groups are calling on lawmakers to pass reforms even if they increase costs. In a letter, six wildlife association leaders said it …
Declarations – West
AIG Pays “This important settlement is a significant win for California businesses and consumers and is the culmination of an extensive effort by insurance regulators across the country to investigate and ultimately correct serious issues of non-compliance by a major …
Regulations, Exclusions Driving Demand in Contractors Pollution Liability Market
An increase in contract requirements and government regulations has led to a surge in demand for contractors pollution liability coverage, the experts say. Kenneth Schneider, senior vice president of Rockhill Underwriter Managers, which is wholly owned by Rockhill Insurance Co., …
