Colorado News

Hub’s Forystek Named President of Missouri’s UMB Insurance

Kansas City-based UMB Financial Corp. reported that Roger Forystek has joined the company as president of its insurance subsidiary, UMB Insurance. He will be responsible for overseeing the insurance company and managing growth of insurance sales and distribution. Forystek has …

Flood & Peterson Insurance Receives Award for Service to Trucking Industry

Greeley, Colo.-based Flood & Peterson Insurance has received the “Delivering the Difference” award from Great West Casualty Co., recognizing the company as a top agency representing the West. The national award honored Flood & Peterson’s Transportation Department for its service …

Even Best Practices Agencies Struggle To Grow in Soft Market

Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) recently released its annual “Best Practices Study,” a study of the leading agencies and brokers in the country The independent …

People

American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston joined AIG in 1990 serving in senior management positions within AIG’s Risk Management Group, including president of National Accounts, …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Mono-line Property for Coastal Exposures Market Detail: CATalyst Property Insurance from Venture Programs gives agents …

Willis HRH Appoints Leaders for South Central and West Regions

Willis HRH, the North American retail division of Willis Group Holdings, the global insurance broker, has named Mike Phillips as regional growth leader for its South Central Region and David Hofele as regional growth leader for its West Region. Phillips …

Liberty Mutual Drops Direct Sales to Middle Market Businesses; Puts Faith in Independent Agents

Liberty Mutual Group is throwing in the towel on direct distribution of insurance to middle market businesses. Since it couldn’t beat independent agents and brokers — who dominate sales in this segment — Liberty Mutual has decided to join them. …

Colorado Evaluating Proposed Insurance Rate Filing Rule

The Colorado Division of Insurance continues to evalute regulation 5-1-10, Rate and Rule Filing Submission Requirements for Property and Casualty Insurance. The rule was proposed to “ensure that property and casualty insurance rates are not excessive, inadequate or unfairly discriminatory.” …

Nebraska Could Be Next State for Fire-Safe Cigarette Law

Nebraska has fallen out of the mainstream when it comes to smoking-related laws, but that could change. Thirty-seven states have passed laws requiring that all cigarettes sold in their states be fire-safe. Nebraska is not among them, but the state …

Western Security Surplus Expands TeleQuotes Service

Pasadena, Calif.-based Western Security Surplus Insurance Brokers Inc. announced it has expanded its TeleQuotes program to Nevada, Oregon and Colorado. Now agents in those three states, plus California and Texas, can quickly get excess and surplus quotes on small accounts. …