FEMA recently issued new flood maps that require people in many parts of New Orleans to elevate their houses, according to Jeff Albright, chief executive officer of the Independent Insurance Agents of Louisiana. “When you talk of raising a structure …
Mississippi Insurance Commissioner George Dale has approved a 90 percent rate increase for homeowner policies provided by the Mississippi Windstorm Underwriting Association. The association, commonly known as the wind pool, had requested a rate increase of almost 400 percent as …
The Hartford Financial Services Group Inc. signed a definitive agreement to sell its non-standard property and casualty subsidiary, Omni Insurance Group, to Independent Insurance Investments Inc. (4i’s), a portfolio company of Inverness Partners II, for approximately $100 million. “The Hartford’s …
Arthur J. Gallagher & Co. acquired S.P. Tarantino Insurance Brokerage Inc. of San Francisco. Terms of the transaction were not disclosed. Founded in 1979, S.P. Tarantino Insurance Brokerage is a full-service retail insurance broker offering risk management and commercial property/casualty …
The Chubb Corporation reported that net income in the second quarter of 2006 was $598 million, or $1.41 per share, compared to $495 million, or $1.23 per share, in the second quarter of 2005. Operating income, which the company defines …
Nearly 29 percent of company time in America is unproductive, according to the results of a new study by management consulting firm, Proudfoot Consulting. The estimated cost of poor productivity in the U.S. is $598 billion and U.S. companies “lose” …
Although many in the insurance industry don’t think they are going up enough, the Texas Windstorm Insurance Association (www.twia.org) is set to raise its rates effective Sept. 1 for new and renewal policies. Commercial rates, including farm and ranch and …
Safeco President and CEO Paula Reynolds announced executive changes made to accelerate the company’s progress toward becoming a low-cost insurance provider with distinctive products and services. Mike Hughes was named executive vice president-Insurance Operations, overseeing profit-and-loss for personal and commercial …
The Federal Emergency Management Agency (FEMA) recently issued new flood maps that require people in many parts of New Orleans to elevate their houses, according to Jeff Albright, CEO of the Independent Insurance Agents of Louisiana. “When you talk of …
American International Group Inc. is sparring again with its former chairman, Maurice “Hank” Greenberg. The company is canceling its agency arrangement with the American International Marine Agency, a subsidiary of the Greenberg-controlled C.V. Starr & Co. Inc., effective Dec. 31. …
