Virginia Insurance Commissioner Jacqueline Cunningham has issued an administrative letter reminding insurers to review the rate standards outlined in Virginia Code §38.2-1904 to ensure compliance. Cunningham also noted that certain “price optimization” techniques — ratings techniques where insurers raise rates …
Geico announced it plans to hire more than 100 new associates in its Buffalo, New York, location for additional positions in claims, sales and service. Geico, the largest auto insurer in New York, said its policyholder base continues to grow …
Delaware Insurance Commissioner Karen Weldin Stewart has fined insurance companies a total of $83,300 during the first quarter of 2016 for violating state insurance regulations. Fines generally result from a market conduct examination of a company’s practices performed by the …
The Vermont Department of Financial Regulation (DFR) has issued a bulletin alerting carriers that “non-cumulation” clauses in occurrence-based liability policies are not allowed under Vermont law. DFR Commissioner Susan L. Donegan said the Vermont Insurance Division has recently seen an …
A former American International Group (AIG) executive is joining QBE Group to become CEO of its North American operations. Russell Johnston will succeed David Duclos in the role of QBE CEO for its North American operation starting on May 31, …
Members of your family – specifically those with fur and a bark – are costing the industry mega dollars. Dog bites (and other dog-related injuries) now account for more than one-third of all homeowners liability claim dollars paid out. In …
Estimating that the high-net-worth (HNW) personal lines market has more than $30 billion worth of business up for grabs, and the small commercial lines market, another $80 billion, Chubb Limited CEO Evan Greenberg sees room for competitors. During an earnings …
For more than 90 years the National Council of Compensation Insurance (NCCI) has served the workers’ compensation industry as a provider of data and information. Its mission has been to “help enable a healthy workers’ compensation system,” according to William …
A large percentage of agents’ errors and omissions claims arise from failure to offer flood coverage. By offering flood coverage at the point of the homeowner sale, in addition to offering protection to clients from devastating losses, agents are also …
For 90 years the American Association of Managing General Agents (AAMGA) has dedicated itself to the growth and sustainability of the global specialty distribution marketplace. This year’s incoming AAMGA president, Ed Levy, vice president, Western region binding, for Risk Placement …
