In 2009, independent insurance agents and brokers faced a “perfect storm” with the economic downturn, premiums at a fraction of what they used to be, and unemployment and home foreclosure rates up, said Kevin Baker of San Jose, Calif.-based Suhr …
A woman was indicted last week in the Eastern District of Louisiana for allegedly filing fraudulent claims for compensation due to the Deepwater Horizon oil spill. Four other individuals were also charged last week in Alabama, Michigan, and Mississippi for …
Diverse Ownership “Many new agencies are forming, typically with a more diverse and younger leadership, demonstrating the strength of the independent agency system and the potential for growth.” —Robert Rusbuldt, president and CEO, for the Independent Insurance Agents & Brokers …
Survey Finds Agencies Take a Second Look at Hiring Employees With Past E&O Histories Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to agency errors and omissions (E&O) exposures. …
Dallas-based MarketScout Wholesale (MSW) has added Shawn Chummar as a broker in its Pacific Northwest location based out of Portland, Ore. Previously, Chummar worked for more than 12 years at a regional wholesale insurance broker. Although he will be handling …
Minnesota Attorney General Lori Swanson sued Discover on Dec. 6, accusing one of the nation’s biggest credit card companies of billing tens of thousands of Minnesota customers for account protection programs they didn’t want. The lawsuit alleges that Discover Bank, …
Digital risks must be a board-level concern for business as the range, frequency and scale of cyber attacks increases, according to a new report. Many companies are unwittingly vulnerable to the possibility of data leakage, phishing attacks, trojans or advance …
The Hartford Steam Boiler Inspection and Insurance Company (HSB) has expanded its data breach coverage for business owners, which helps them respond to the loss or theft of the personal information they keep on customers and employees, to include legal …
CNA Canada has improved and updated Oneworld Global Master Policy. This worldwide policy provides coverage for Canadian-based business leaders who operate domestically or internationally. Oneworld offers broadened property coverage, enhanced casualty wordings/endorsements and industry-specific casualty endorsements, upgraded Inland Marine coverage …
Americans’ spending hits a fever pitch during the holidays and two days in particular – “Black Friday” and “Cyber Monday” – leave retailers and consumers vulnerable to different exposures. The day after Thanksgiving — also known as Black Friday — …
