With $7.3 billion in premium, Liberty Mutual Agency Markets becomes the largest regional independent agency force Boston-based insurance giant Liberty Mutual Group is now the largest regional provider of property and casualty insurance distributed through independent agents in the country. …
The California State Compensation Insurance Fund has selected Janet Frank to be its new president. Frank, currently executive vice president of North American Field Operations for CNA Financial, is scheduled to begin working at SCIF in October. SCIF noted it …
Many in the financial industry are speculating what could happen to insurance companies as a result of the subprime mortgage mess, but the truth is it may be too soon to tell. One of the hardest-hit lenders, Countrywide Financial Corp. …
For agents, the Liberty Mutual Agency Markets acquisition of Ohio Casualty promises to be a matter of addition, not subtraction. For the most part, Ohio Casualty’s 3,400 agents will join with and not replace or be replaced by Liberty Mutual’s …
A ruling by the Alaska State Supreme Court requiring insurers to re-rate all policies at the very first renewal as if credit information was never considered will have the unintended result of forcing good insurance risks to pay more — …
Allstate will raise its homeowners’ insurance rates despite a state order not to and a request by the state’s consumer advocate to fine the company for each policy it renews at the new rate. “We continue to believe that this …
Catastrophe modeling pioneer and founder of the firm AIR, Karen Clark, has formed a new firm — Karen Clark & Co. — to help companies use catastrophe models in important risk management decisions. The Boston firm will offer consulting services, …
U.S. workers’ compensation payments for medical care and cash benefits for workers disabled by workplace injuries or diseases declined in 2005, according to a study by the National Academy of Social Insurance (NASI). The drop in payments in 2005, the …
All must show proof of workers’ comp insurance Residential contractors in Arkansas who own their own businesses may opt out of workers’ compensation coverage for themselves, but must purchase it for their business, according to a bulletin recently issued by …
A fat cat, or dog, may result in fat bills for owners and the pets’ insurer. Veterinary Pet Insurance (VPI), the largest provider of pet health insurance, recently reviewed policyholder data to find that it reimbursed more than $14 million …
