Business Moves
Marsh & McLennan, Kroll, Altegrity Marsh & McLennan Cos Inc. agreed to sell investigations unit Kroll to a firm led by former Marsh CEO Michael Cherkasky for less than the insurance broker paid for Kroll six years ago. MMC plans …
Business Moves
BBVA Compass, Crest Insurance Cody Ritchie and other senior members of the BBVA Compass Insurance Agency of Tucson, Ariz., acquired the firm’s assets to form a new company called Crest Insurance Group. The sale returns the agency’s ownership and management …
Latin Agents Group Launches in New York
Country Sees Growing Power of Hispanic Agents and Customers A group of New York insurance agents has launched a new trade group for Latin insurance producers as well as brokers who serve the Hispanic community in the Northeast. Elmer Rivera, …
People
U.S. Risk Insurance Group Inc. named Julie Sylim a vice president and branch manager for the company’s Oakland, Calif., office. Julie has more than 20 years of insurance experience, most recently in the wholesale arena. She previously was the underwriting …
Connecticut Warns Agents over Surplus Lines Placements
The Connecticut Insurance Department is warning producers against placing coastal homeowners in the surplus lines market if an admitted insurer has offered to renew their policies. Doing so violates state law. In a recently released bulletin, the state says it …
Senate Again Rejects Bill Containing Flood Insurance Program Restart
The U.S. Senate yesterday again voted down a legislative package on jobless benefits, Medicare payments to doctors and business tax breaks that also contains reauthorization of the nation’s flood insurance program. Despite reducing the overall cost of the package, Democrats …
New York Agents Urge Defeat of Auto Insurance Reform Bills
A trade group for New York agents is urging lawmakers to defeat a bill it says would weaken the state’s no-fault auto insurance system by expanding juries’ role in deciding whether a lawsuit can proceed. The Independent Insurance Agents & …
Arthur J. Gallagher & Co. Acquires Arkansas Insurance Agency
Insurance brokerage and risk management services firm Arthur J. Gallagher & Co. has acquired the operations of Bowen, Miclette, Britt & Merry of Arkansas Inc. in Fort Smith, Ark., from Bowen, Miclette & Britt Insurance Agency LLC in Houston, Texas, …
NAS Lowers Rates, Minimum Premiums for Insurance Agents E&O
NAS Insurance Services, Inc. has released new rates for insurance agents and brokers E&O. Agents managing 100 percent personal lines have new reduced rates and a new minimum premium starting at $2,000. Agents handling 100 percent personal auto insurance have …
Neace Lukens Launches New Life Sciences Specialty Insurance Service
Neace Lukens, a national full-service private insurance broker, has expanded its insurance product lines to include a new specialty insurance service for companies in the life sciences industry. This new division will provide comprehensive insurance services for companies that manufacture, …
