The Shaw Group of Eureka, Calif., and its affiliates: Anderson, Robinson & Starkey Inc.; Shaw & Petersen Insurance Inc.; PS Insurance Inc. dba Shaw Insurance Services; and Harbers Insurance Agency Inc. are the newest members to join PacWest Alliance Insurance …
Pay Czar Approves Retention Pay Raise for AIG Executive
A top executive of American International Group Inc. has been granted a $4.3 million pay-package bump by the troubled insurance giant’s majority owner — the U.S. government — because the executive has decided to remain with the company. Kenneth Feinberg, …
Florida Insurer Magnolia Placed Under State Supervision
Home insurer Magnolia Insurance Co. has been placed under administrative supervision by Florida insurance regulators who said it is in unsound financial shape and its president, H. James Irl, has resigned. The Coconut Grove-based insurer voluntarily agreed to the supervision, …
Washington Man Sues Idaho Over Pothole
A Spokane, Wash., man has filed a $500,000 lawsuit against the state of Idaho for injuries he says resulted from a crash caused by potholes on Interstate 90 in northern Idaho. Kasey Crick, 22, filed the lawsuit Dec. 18 after …
Settlement for Countrywide Financial ID Theft Victims Advanced
A federal judge in Kentucky has given preliminary approval to a settlement between Countrywide Financial Corp., and millions of customers whose detailed financial information was exposed in a security breach. Under the terms of the settlement, Countrywide, now owned by …
Aon Realigns Global Brokerage Services to Enhance Client Access
Global insurance broker Aon Corp. is taking what it says is its most significant step ever in realigning its brokerage operations to meet its retail clients’ needs for access to insurance markets, risk transfer options and risk management services. The …
New York Orders Two Insurers to Reinstate 260 Policies
The New York State Insurance Department has ordered insurers Homesite Insurance Co. and Security Mutual Insurance Co. to offer to reinstate at total of 260 homeowners’ policies across the state. Regulators say the insurers improperly cancelled or non-renewed the policies. …
Markel President Resigns
Virginia-based specialty insurer Markel Corp. announced that its president and chief operating officer, Paul W. Springman, has resigned. Springman had been on a leave of absence since late October, Alan I. Kirshner, chairman and chief executive officer, said: “We appreciate …
Mississippi Stabilizes Wind Pool Insurance Premiums with $19 Million
Property owners insured in the Mississippi wind pool may soon find some relief from rising premium costs with the transfer of $19 million from the Mississippi Insurance Department to the Mississippi Windstorm Underwriting Association, the official name for the wind …
Massachusetts AG Sues Agency Accused of Collecting Bogus Fees
Massachusetts Attorney General Martha Coakley’s Office has filed a lawsuit against the owners and agents of a Bay State insurance agency, alleging the business pocketed $3.4 million in fees it disguised as insurance premiums. The lawsuit names Peabody-based Kilgore Insurance …
