Last October, Insurance Journal spent two days in Mississippi visiting with three independent insurance agents who experienced the devastation left by Katrina. Late last month, on Hurricane Katrina’s first anniversary, Insurance Journal checked back with these agents to see how …
Effective Jan. 1, 2007, all Rhode Island resident insurance producers are required to carry errors and omissions insurance coverage as a condition of obtaining and retaining their insurance producer license. Individual resident insurance producers may satisfy this requirement with a …
California Gov. Arnold Schwarzenegger and Insurance Commissioner John Garamendi have jointly submitted legislation, inserted into Assembly Bill 2125, to establish oversight responsibility and regulatory authority for the State Compensation Insurance Fund. According to the commissioner’s office, the agreement should resolve …
Both the Independent Insur-ance Agents of Oklahoma and the Independent Insurance Agents of Texas reported they have joined other agent groups in denouncing recent assaults on compensation agreements between independent agents and their represented companies. Some national insurance companies and …
One of the most serious problems facing the insurance industry today is the acute shortage of bright, college-educated young people entering the profession. Walk around any college campus and you’ll find that the brightest and best of our graduates are …
-16% The percentage that Beacon Mutual Insurance Co., Rhode Island’s dominant workers’ compensation insurer, plans to reduce rates on average. The company, which has roughly 14,500 policyholders, says it expects the rate reduction to save Rhode Island employers about $9 …
The attorneys general of New York, Connecticut and Illinois are continuing their fight against anti-competitive practices in the insurance industry. In doing so, they have been finding fault with contingent commissions paid to insurance brokers and independent agents. Agent and …
On Aug. 28, 2006, the Louisiana Department of Insurance issued an updated statewide estimate of reported claims and insured losses paid-to-date (information as of July 31, 2006) for damage caused by Hurricane Katrina in Louisiana in August 2005. The department …
Courts and legislatures around the country are taking a serious look at the problems created by the consolidation of mass tort cases, like the asbestos and silica litigation. The Michigan Supreme Court provided the latest move toward restoring balance with …
Insurance agents and insurers in Pennsylvania were breathing a sigh of relief following a court ruling that says agents do not have a duty to inspect all properties before binding or renewing flood insurance coverage. Had the recent Superior Court …
