CAA, Ed Berrong Insurance Agency, Bridges Group
Austin, Texas-based Combined Agents of America LLC (CAA) has expanded outside of Texas with two new members, Ed Berrong Insurance Agency, headquartered in Oklahoma, and Bridges Group Inc., based in Kansas.
A family-owned agency, Ed Berrong Insurance Agency was founded in 1948. Based in Weatherford, Okla., it serves Oklahoma and surrounding states with a full line of insurance products, including home, auto, business, life and health, while specializing in oil and gas. For 14 consecutive years, Ed Berrong Insurance has been selected by the Independent Insurance Agents & Brokers of America (IIABA) as a Best Practices agency.
Since 1894, the Bridges Group has served the region surrounding Norton, Kan., with a range of insurance products, including home, business, crop, farm and ranch, auto, health, and other financial services. Since 2004, Bridges Group has been selected by the IIABA as a Best Practices agency.
Founded in 1997, CAA now has 40 independent insurance agency members located throughout Texas, Oklahoma and Kansas.
Pacific Specialty
Pacific Specialty Property and Casualty Co., the Texas affiliate of California-based Pacific Specialty Insurance Co. (PSIC) has expanded its slate of preferred tier residential property insurance products in the state of Texas.
Effective March 1, 2009, Pacific Specialty began offering new discounts and more options on its existing HO-4 and HO-6 programs. In addition, the company released its comprehensive HO-3 homeowners policy with preferred rating and coverage.
On average, homeowners who switch to Pacific Specialty save $200 annually on their homeowners insurance, the company said in its announcement.
The homeowners HO-3 policy offers referential rating for qualifying preferred tier policies and will cover homes up to $700,000 in dwelling value. The unit-owners (HO-6) and renters (HO-4) policies offer referential rating for qualifying preferred-tier policies and cover personal property up to $300,000 (HO-6)/$150,000 (HO-4).
The new program for Texas is an extension of the company’s preferred residential offerings in Arizona, California and Nevada.
Capitol County Mutual Fire Insurance Co.
The Texas Department of Insurance reported that Capitol County Mutual Fire Insurance Co. notified policyholders that their industrial fire insurance coverage will end effective with the policy monthly anniversary date in May 2009. TDI fined Capitol County for bad faith and other claims violations in the wake of Hurricane Rita in 2005. The company was also hit with a number of policyholder lawsuits.
TDI said consumers who have received notice that their policy will be non-renewed should begin shopping for new insurance immediately.
University of Houston-Downtown
The Texas Higher Education Coordinating Board has approved a proposal by the University of Houston-Downtown (UHD) to offer a Bachelor of Business Administration degree in Insurance and Risk Management.
The new degree program is designed to develop career professionals for the insurance and risk management industry, enhance the industry’s public image, and conduct research of interest for the insurance industry and consumers, said Don Bates, dean of UHD’s College of Business.
The new degree plan will be offered through the new UHD Insurance and Risk Management Center (the Center), which will be located in the new College of Business building located at 1021 North Main.
UHD alumnus David deRoode, Houston chief operating officer of BancorpSouth Insurance Services, approached Bates two years ago about the shortage of young, educated people pursuing a career in insurance and the growing void of talent within the $800 billion industry existent in Texas.
The Bates-deRoode team started discussions with insurance industry leaders to see if they had any interest in developing a regional insurance and risk management program, what the program should include, and whether the industry was willing to support the program. Bates calculated the start-up costs and set $150,000 as a fundraising goal. By March 2009, $340,000 in cash or pledges had been raised, with fundraising continuing.
The first classes will be offered next fall and registration will begin this spring. Industry professionals will teach the classes.
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