Tower Group International Ltd. is cutting about 140 jobs, or 10 percent of its workforce, after posting a second-quarter loss of more than $0.5 billion. Job cuts will be made in commercial lines underwriting and operations and save about $21 …
In the TMPAA survey, respondents were asked to rate 13 carrier attributes in terms of their importance to a successful program. After identifying the most important carrier attributes, administrators were then asked to rate their top three carriers in terms …
Every day insurance agents throughout the United States meet with potential insureds to transact the purchase of insurance. Typically, the insurance agent or broker will cover the main features of an insurance policy but will not discuss many of the …
Program insurance premium revenues increased 10.8 percent in 2012, more than three times the rate of premium growth in the overall commercial insurance markets, according to results from a recent survey by the Target Markets Program Administrators Association (TMPAA). Premiums …
The surplus lines industry experienced tough times in 2012. But that hasn’t been the story for 2013, says Jeremy Johnson, president of Lexington Insurance Co., a unit of AIG. In this interview with Insurance Journal‘s Andrea Wells, Johnson says an …
Companies of all types and sizes are facing increased risks, but many are not putting adequate programs in place to manage those risks, according to a Zurich-sponsored study by Forbes Insights. As a result, companies are suffering financial losses from …
More than 4.5 million U.S. households are at high or extreme risk from wildfire, according to new analysis by Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics. The analysis identified the number and percentage of properties at risk …
Where is the Affordable Care Act headed? Are we prepared? Who will be covered and who won’t? Are we robbing from Peter to pay Paul? The list of questions is endless. The answers are few and far between. In a …
The independent agency system is strong and getting stronger. Thanks to a focus on specialization, investments in technology and staff, as well as strong growth strategies throughout the economic recession, agencies of all sizes are showing increases in profitability today. …
Eastern Insurance Group, Westover Insurance Eastern Insurance Group, an insurance agency and a subsidiary of Eastern Bank based in Natick, Mass., acquired Westover Insurance Agency in Lynnfield, Mass. Eastern Insurance said the acquisition increases its customer base north of Boston, …
