Economy News

Employees Taking Salary Cuts Look for Loyalty from the Boss

Many employees of small businesses are grateful to have a job, even as salaries are frozen or cut and they’re asked to take on more responsibility. Company owners shouldn’t take those good attitudes for granted — they need to show …

Language Leads Enterprising Agent Into Successful Niche

At first glance, Kathryn Soderberg seems an unlikely expert on marketing insurance to Hispanic customers, but the tall, fair-skinned Caucasian is a frequent radio talk show guest and leading Hispanic market-training sessions for large insurance companies. Soderberg, president of Soderberg …

North Carolina Caps Auto Rates

North Carolina is ordering auto insurers to roll back their rates to 2006 levels and send up to $50 million in refunds to about 1 million policyholders. Insurance Commissioner Wayne Goodwin said the settlement does away with a rate increase …

How to Re-ignite Producers – and Other Employees – Who Have Lost Their Spark and become Too Comfortable

Incentive Compensation Focused on Customers, Not Premiums, Works, Consultant Says Al Diamond is one of the country’s best known agency management consultants. His firm, the Agency Consulting Group, is based in Cherry Hill, New Jersey. He deals with agencies across …

Love of Language Leads Enterprising Agent Into Successful Niche Market

At first glance, Kathryn Soderberg would seem an unlikely candidate for an insurance agent whose expertise in marketing to Hispanic customers lands her gigs on radio talk shows and leading Hispanic market training sessions for large insurance companies. Soderberg, president …

Fairfax Sees Insurance Market Turning Corner in ’09

Toronto-based Fairfax Financial Holdings Ltd said Friday it expects the insurance market to turn a corner this year and believes its book value will be “up significantly” in five years. Speaking during a conference call the morning after Fairfax reported …

How to Help Clients Work Through the Challenges of Business Bankruptcy

Bankruptcy. It’s a word agents and brokers will need to get used to hearing from their business clients. It’s not just occurring on Wall Street; it’s happening every day on Main Streets across the country and in industries as broad …

HRH Acquisition Helps Boost Willis’ Revenues by 19% in Q2

Willis Group Holdings Limited (NYSE: WSH) reported the company’s total second quarter revenues were up by 19 percent, an increase due primarily to the HRH acquisition. Total reported revenues for the quarter ended June 30, 2009 were $784 million compared …

U.S. and China Sign Memorandum on Climate Change

The United States and China, the world’s largest emitters of greenhouse gases, signed an agreement Tuesday that promises more cooperation on climate change, energy and the environment without setting firm goals. Chinese and U.S. officials signed the memorandum of understanding …

Arthur J. Gallagher Reports Q2 Results; Slight Drop in Organic Revenue

Arthur J. Gallagher & Co. reported a slight drop in organic revenue of just 0.3 percent for the second quarter 2009 for its combined insurance brokerage and risk management units. For the quarter ending June 30, 2009, AJG reported $340.1 …