Economy News

4 ‘Ace’ Agencies, 4 Success Stories

Despite Soft Market, Firms Have Managed to Grow They’re all different – one’s big city; one’s suburban; one’s country; one’s small-to-medium size town. They operate in different parts of the state and have different mixes of business, but these Texas-based …

Business Moves

AJ Gallagher, Bowen, Miclette 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 …

Small Businesses Pay 33% of Rising Tort Costs Out-of-Pocket

A new study from the U.S. Chamber of Commerce shows that small businesses shoulder a sizable burden of the nation’s tort liability costs, having paid $105.4 billion in 2008 – a third of it out of their own pockets. According …

As the Wholesale World Turns

E&S Brokerage Mergers, Expansions and Start Ups, Oh My! As goes the circle of life, so goes the wholesale insurance broker world. Not even the sixth year of a soft market cycle has deterred industry veterans from launching new wholesale …

The Competitive Advantage: Partnerships

Do you have a partner you wish you didn’t? Or are you a sole owner and wish you had a partner? I deal with many agency owners facing these two situations. Sometimes the problem begins with wanting a partner and …

Washington Commissioner Criticizes Insurers’ Credit Score Use

Washington Insurance Commissioner Mike Kreidler is taking aim at insurers’ use of credit scores, warning consumers that large drops in credit scores could lead them to pay 8 percent to 15 percent more for insurance. Meanwhile, several insurance associations say …

Agents Applaud House Passage of Flood Insurance Program Extension

The U.S. House of Representatives has a measure extending the federal flood insurance program for five years. The bill, H.R. 5114, the “Flood Insurance Reform Priorities Act of 2010,” sponsored by Rep. Maxine Waters (D-Calif.) and Rep. Barney Frank (D-Mass.), …

Gulf State Residents Relieved But Wary Over BP Oil Well Fix

News that oil has stopped leaking from BP’s blown-out well into the Gulf of Mexico spread a wave of relief Thursday among coastal residents, but it failed to dispel concerns about the disaster’s long-term impact. “I tell you what, we …

Zurich, Artex Expand Workers’ Comp to Temporary Staffing Firms

Zurich has expanded its relationship with program administrator Artex Risk Solutions, Inc. to offer workers’ compensation insurance to temporary staffing companies, focusing on clerical, professional, medical professional and light industrial markets. Artex has been a workers’ compensation program administrator with …

BP Test of New Cap on Gulf Oil Well Could Be Turning Point

BP Plc prepared on Tuesday to test a new cap on its runaway well, arresting the flow of oil which has been gushing into the Gulf of Mexico for the last 12 weeks. [According to Reuters BP Plc will launch …