Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
Hartford Launches ‘Quote Marine’ eSubmission Tool
Dec 9 2004 // The Hartford Financial Services Group, Inc. has launched a new electronic application submission, rating, quoting and binding tool “Quote Marine,” which will assist agents in selling, servicing and managing...
N.Y. Agents’ Survey Sees Lingering Hard Market
Dec 9 2004 // Independent agents and brokers in New York see premium rates continuing to increase and coverage choices failing to improve for most lines of property casualty insurance in the state despite industry and press reports to...
Big ‘I’ Backs NAIC Compensation Disclosure Amendment
Dec 9 2004 // The Independent Insurance Agents & Brokers of America announced that it supports the stated goals and objectives of the National Association of Insurance Commissioners’ (NAIC) compensation disclosure amendment,...
Alabama Agents Schedule March Legislative Conference
Dec 8 2004 // Alabama agents will be briefed about pending legislation, review topics to discuss with Alabama legislators and attend a BBQ at the Capital March 17 during the 18th Alabama Independent Insurance Agents Legislative...
AmWINS Acquires N.C. Quaker Special Risk
Dec 8 2004 // Charlotte, N.C.-based American Wholesale Insurance Group (AmWINS), a large independent wholesaler, has acquired the southeast office of Quaker Special Risk. AmWINS provides retail agents with insurance services, from...
New Agents Council for Technology Report Outlines Recommendations for Privacy Policies
Dec 7 2004 // As Americans become increasingly concerned about the privacy of their health and personal information, independent insurance agents and brokers must make safeguarding private client information a specific focus within...
PCI Says Revised NAIC Producer Licensing Model Makes Progress, But Still Flawed
Dec 7 2004 // One day after a lengthy hearing on its draft Producer Compensation Disclosure Amendment to the Producer Licensing Model Act, the National Association of Insurance Commissioners (NAIC) released a revised version of the...
Canter Says State, Federal Regs Are Detrimental
Dec 7 2004 // More than 120 firms participated in the Big “I” exhibit During my term we have made numerous advances, I couldn’t have done any of them without the help of the Executive Committee and dedicated...
Publish Your Own Insurance Owner’s Manual
Dec 6 2004 // When one buys something tangible of any complexity, it usually comes complete with a hard-to-open box, endless packing materials, and an owner’s manual for handy set-up and reference. These helpful little booklets...
Ill Winds Blow but the Ship Remains on Course
Dec 6 2004 // This year’s annual report on the reinsurance industry is a bit later than usual. It seems that beginning in August the voyage was interrupted by some serious storms, and it was hard to catch up to the boat as it...
SPITZER TAKES COMPENSATION PROBE TO WASHINGTON
Dec 6 2004 // Senate Panel Wants In, Agents Want Out of Brokerage Scandal At recent Senate hearings in Washington called to follow-up on allegations of bid rigging and hidden compensation by Marsh and other large insurance brokers,...
States Unveil Model Disclosure Act
Dec 6 2004 // An insurance broker would be required to obtain written approval from its insured before receiving any compensation from an insurer for the same transaction under a compensation disclosure act unveiled by the...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement Marsh & McLennan has been in constant contact and cooperation with New York Attorney Eliot...
Mass. Commissioner Facing Facts About Auto System
Dec 6 2004 // It’s time for Massachusetts to face the facts about its old ways of tightly regulating private passenger auto insurance and create a modern day system, Massachusetts Insurance Commissioner Julianne Bowler told agents...
For Mass. Independent Agents, State Attorney General Reilly is No Ally
Dec 6 2004 // Even as Massachusetts tackles the challenge of making the state’s private passenger auto system more like that in other states (see story page 18), independent insurance agents must continue to play by the...
Big “I” Panelists Concerned About Terrorism, Asbestos, Tort Reform
Dec 6 2004 // Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company chief executives participating in a panel discussion during last month’s Independent Insurance Agents &...
What is Your Agency Worth’ Productivity and Revenue Determine Value
Dec 6 2004 // Over the years, I have found that many agency owners peg their agency value to traditional benchmarks and current market values. At one time, the industry benchmark for an average agency was one and a half times annual...
AGENT NOW N.J. GOVERNOR:
Dec 6 2004 // Richard J. Codey, long time Democratic legislator and local independent insurance agent in his West Orange community, has become New Jersey’s acting governor. Codey assumed the office from James McGreevey, who...
NAIC Hears Testimony on Changes to Producer Licensing Model Act; Broker Disclosure a Big Concern
Dec 6 2004 // The National Association of Insurance Commissioners’ Executive Task Force on Broker Activities heard a consensus from industry and producers that while remedies were needed, the initiatives suggested so far were...
MINN. AG OUTLINES LEGISLATION ON BROKER OPERATIONS:
Dec 6 2004 // Minnesota Attorney General Mike Hatch has proposed a series of sweeping rules regulating how brokers would operate in the Land of 10,000 Lakes. Hatch, a Democrat, has found compatriots in the Minnesota legislature to...
