Monthly Archives: <span>March 2014</span>

Michigan’s J.M. Wilson Names Terry Branch Manager in Kansas City Office

Managing general agency and surplus lines insurance broker, J.M. Wilson, added Michele Terry, as branch manager of its Kansas City, Mo., location. Terry will oversee the day-to-day operations of the Kansas City office and staff, and foster growth and development …

South Dakota Robocall Scam Falsely Using Houston Insurance Firm’s ID

An automated phone message reaching South Dakota residents has been prompting MasterCard customers to enter their card numbers in the dial pad. The South Dakota Attorney General Marty Jackley warns consumers that this robocall is a scam. The caller ID …

California Targeted by Cyber-gangs: Report

International criminal enterprises follow the money, and a report says they are increasingly focusing on California because of its wealth and innovation. Aside from long-time trafficking in drugs, guns and people, the report by California Attorney General Kamala Harris says …

Survey: Who’s Worth What in the Independent Agency System?

For the second year in row, salaries and total compensation rose in independent insurance agencies across the nation. That’s according to Insurance Journal’s annual Agency Salary Survey 2014. This year all levels of agency personnel averaged between a 2 percent …

Louisiana Parish Denies FEMA Fraud Allegations in Gustav Cleanup

Attorneys say the Federal Emergency Management Agency’s threat to have Livingston Parish’s Hurricane Gustav debris removal monitors investigated for fraud is “gratuitous” and “improper.” FEMA has alleged that monitors hired by the parish to oversee the removal of leaning trees …

$1.2B Judgment Against Drug Maker Voided by Arkansas Supreme Court

The Arkansas Supreme Court overturned a $1.2 billion judgment against Johnson & Johnson in a lawsuit challenging the drug maker’s marketing of the antipsychotic drug Risperdal. The agreement was the third-largest settlement with a drug maker in U.S. history. The …

Best Revises Outlook on Chubb and Subs ICR Ratings to Positive; Affirms FSR

A.M. Best has revised the outlook of the issuer credit ratings (ICR) to positive from stable and affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and the ICRs of “aa+”of the property/casualty subsidiaries of The Chubb Corporation, also known …

Md. Legislation to Require Roadside Zoos to Carry $1M Liability Coverage

Both houses of the Maryland General Assembly have passed bills to stiffen requirements for roadside zoos without requiring them to be accredited or meet certain safety and animal-care standards. The Frederick News-Post reported Wednesday that the bills lack restrictions sought …

Florida-Based Lighthouse Property’s Pres. Chapman to Retire in July

Lighthouse Property Insurance Corp. announced its president, Ronald Chapman, will retire in July. The company said Patrick White, a director and owner of Lighthouse since 2010, will succeed Chapman as president. Chapman has held the position of president since Lighthouse’s …

Canada Pension Plan Board to Buy Wilton Re for $1.8 Billion

The Canada Pension Plan Investment Board (CPPIB) announced that it has agreed to buy U.S. life insurance and reinsurance provider Wilton Re Holdings Ltd for $1.8 billion from a group of private equity firms, the first foray by the global …