Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits, New York will receive $5.5 million and …
In their zeal to control health care costs, federal policymakers may be pushing health insurance agents and brokers to the sidelines and potentially out of business. If this happens, they will be shortchanging the consumers who rely on agents and …
New Jersey will soon allow captive insurers under a bill passed by the state’s legislature and expected to be signed by the state’s governor in the coming weeks. The legislation makes the Garden State a captive insurance domicile, and would …
A key trade group for insurers in New York State applauded a proposal by Gov. Andrew Cuomo to merge the state’s insurance regulatory arm into a single agency overseeing insurance, banking and consumer protection. The proposal for the so-called Department …
Six years ago, Harleysville Group was in need of a big change. The Pennsylvania-based insurer had just come out of the worst performing year in its history. That’s when newly appointed CEO Michael Browne — who declared the company’s performance …
Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits, New York will receive $5.5 million and …
New York City is considering whether pay-as-you-drive auto insurance could reduce congestion and pollution in the Big Apple. The city’s department of transportation has issued a request for expressions of interest inviting vendors to submit information about pay-as-you-drive insurance policy …
Two New York agents’ groups said they have taken the first steps to appeal a decision by state court judge allowing state insurance regulators to force brokers to reveal their commissions. The Independent Insurance Agents and Brokers of New York …
The touchy subject of agents’ commissions dominated headlines in 2010 — particularly in New York where regulators unveiled new rules that will force agents to reveal to clients how much they are paid. That decision struck a major nerve within …
A bankruptcy court judge has ordered Travelers to pay at least $445 million into claims funds set up by a 2004 asbestos settlement. The funds were set up to resolve a number claims brought in state courts over asbestos liability …
