February 18, 2014
A new law in Vermont would soon authorize the state to license and regulate specialized Vermont-based companies whose only purpose would be to assume and manage closed blocks of non-admitted commercial insurance policies and reinsurance agreements. The legislation, Vermont’s Legacy …
February 11, 2014
Starkweather & Shepley Insurance Brokerage, one of the largest independent insurance agencies in the Northeast, recently celebrated the 135th anniversary of its founding.“This is an exciting time for the firm. It’s a real tribute to what we have accomplished. It’s …
February 11, 2014
At a recent public hearing, Massachusetts Attorney General Martha Coakley’s office expressed its opposition to the workers’ compensation average rate increase proposal and argued that the rate should be lowered instead. The Attorney General’s office expressed its view at the …
February 6, 2014
As part of his administration’s plan for new tax revenues, Massachusetts Gov. Deval Patrick recently proposed applying a corporate tax rate to the state’s “pass-through entities” that are owned by insurance companies. The proposal was part of Gov. Patrick’s fiscal …
February 6, 2014
The Hanover Insurance Group Inc. in Worcester, Mass., reported net income of $70.1 million for its 2013 fourth quarter, improving from a net loss of $55.0 million during the 2012 fourth quarter. Prior-year loss results included the impact of $129 …
February 5, 2014
The Federal Insurance Office (FIO)’s recent report on how to improve and modernize insurance regulation has received a range of reactions since its publication in December. Recently a business law scholar at the University of Pennsylvania also weighed in on …
January 31, 2014
Selective Insurance Group, based in Branchville, N.J., posted $25.3 million in net income for its 2013 fourth quarter, up from $1.3 million net income posted during the 2012 fourth quarter which included impacts of Superstorm Sandy. For the full year …
January 30, 2014
A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed bag” from a granular level. And it’s shaping …
January 29, 2014
W. R. Berkley Corp. reported $130.38 million in net income for the 2013 fourth quarter, a 21 percent decline compared to $165.49 million reported during the prior-year fourth quarter. The net income for the full year 2013 was $499.93 million, …
January 27, 2014
The Travelers Cos.’ earnings, one of the first major insurance earnings to be reported each quarter, are often closely observed by industry participants as a bellwether for marketplace trends. And the company’s latest quarterly results last week may reflect a …