Currents

57,000 Fla. customers of liquidated Vanguard given policy options

Leon County (Florida) Circuit Court Judge Terry P. Lewis approved an order on March 27 allowing Royal Palm Insurance Co. and Security First Insurance Co. to offer new coverage to the 57,000 homeowner policyholders currently with Maitland-based Vanguard Fire & …

Mentoring process is at the core of new producer development

Dedicating the time is essential for success Most high performance, high growth independent agencies have a lot in common when it comes to finding, hiring and mentoring new producers: They dedicate the necessary time for their mentoring program and couple …

Hartford Specialty Risk’s Sullivan named Conn. insurance chief

Connecticut Governor M. Jodi Rell is naming a claims administration executive, Thomas R. Sullivan, to be the state’s insurance commissioner, replacing Susan Cogswell who is stepping down from the top regulatory post she has held for almost seven years. Sullivan, …

Holocaust insurance claims top $300 million

The International Commission on Holocaust Era Insurance Claims concluded its claims processes. More than $300 million in awards were distributed to more than 48,000 Holocaust survivors and their heirs. The ICHEIC was established in 1998 by the National Association of …

Top 10 data loss disasters in 2006

Data recovery firm says no matter how bad the loss, there’s a chance for recovery Data recovery experts worldwide from Minneapolis, Minn.-based Ontrack Data Recovery chimed in for a poll to name the top 10 remarkable data loss disasters in …

Mass. auto report offers map to move state to limited price competition

Also, advises against assigned risk pool change at this time and against erasing subsidies or allowing credit scoring A special auto insurance study group appointed by Massachusetts Gov. Deval Patrick has recommended modest changes to introduce limited pricing competition to …

RadioShack cited for failing to protect customer information

Texas Attorney General Greg Abbott announced he has taken legal action against Fort Worth-based RadioShack Corp-oration for exposing its customers to identity theft. According to documents filed by the AG’s office on April 2, 2007, RadioShack violated a 2005 law …

Bipartisan flood insurance ‘modernization’ bill boosts borrowing, maximum limits

Agents generally support legislation, but insurers caution changes could result in additional costs U.S. Reps. Judy Biggert, R-Ill., and Barney Frank, D-Mass., introduced bipartisan legislation to revamp the National Flood Insurance Program that boosts the program’s borrowing authority to $21.5 …

Calif. low cost auto program expanded to six counties

California has expanded its Low Cost Automobile Insurance Program to low-income, good drivers in Merced, Monterey, Santa Barbara, Sonoma, Tulare and Ventura counties, announced the California Department of Insurance. The program offers low-income, good drivers the opportunity to purchase auto …

Summary of Mass. auto insurance recommendations

In its report, Gov. Patrick’s auto insurance study group set forth these key recommendations: 1. The insurance commissioner should examine alternatives to move towards competitive rating using flex-bands, while maintaining affordability for all drivers, minimizing disruption to the market and …

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