Royal Bank of Canada is reviewing its domestic property and casualty insurance business, Chief Executive Officer David McKay said, citing difficulties caused by rules that ban banks from selling coverage in branches. “We’re trying to decide which direction we go,” …
The Board of Directors of Jacksonville, Fla.-based Harden has elected three of its current vice presidents as officers for 2015. Kelly Craddock, Bettilyn Lunetta, and Elisa Simpson were recognized by the company as new senior vice presidents. In addition, Thea …
A.M. Best has downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit ratings to “bbb-” from “bbb” of South Carolina Farm Bureau Mutual Insurance Co. and Palmetto Casualty Insurance Co. (together known as South …
The U.S. economy is evolving in many ways, most significantly when it comes to both the cost of capital and the ownership of capital, and that change in capital ownership is a challenge for the insurance industry, according to William …
Minnesota and Michigan both are confronting significant problems with scammers defrauding auto insurance systems they perceive have relatively soft defenses. Minnesota faces a surge in organized fraud rings that fleece auto insurers with large and fake injury claims. The state …
California Insurance Commissioner Dave Jones announced a $1 million settlement with Mercury Insurance Co., Mercury Casualty Co. and California Automobile Insurance Co. over findings that Mercury violated California laws on rating and underwriting practices. The settlement stems from a market …
Grass Valley, Calif.-based Networked Insurance Agents has promoted Michael Carrington to vice president of service and Tam Duong to vice president of commercial lines account management. Carrington leads a team of 30 customer service representatives and business processors. Duong leads …
Online auto insurance comparison site compare.com is now working with Google on its auto insurance compare and buy platform, Google Compare, in California. Andrew Rose, CEO of Virginia-based compare.com, said Google approached his company because it was having trouble attracting …
The Norman-Spencer Agency, Inc.’s marine insurance services division has launched the TradeWinds Yacht Insurance Program. According to Paul Sexton, vice president of Norman-Spencer’s marine insurance services division, the addition of the new TradeWinds yacht program will drive Norman-Spencer’s growth in …
A judge is approving class-action status to a lawsuit saying North Carolina has broken its promise to give magistrates pay raises. Forty magistrates filed the lawsuit last year. But with Superior Court Judge Michael O’Foghludha’s ruling, the number could jump …
