While insurance companies are calling upon state officials to coordinate their responses to the various brokerage compensation and other inquiries, independent insurance agents are worried about how the insurers themselves are responding to the pressure for disclosure of agent and …
California Insurance Commissioner John Garamendi recently took time out from his schedule to chat with Insurance Journal Online Editor Dave Thomas regarding SB 938, “use it and lose it” practices against homeowners, workers’ comp reform, the fire season, and his …
Virginia insurance agents might not have to worry about a new far-reaching compensation disclosure law as do agents in some other states, but they should pay attention to laws already on the books, the state’s chief licensing officer recently warned. …
While insurance companies are calling upon state officials to coordinate their responses to the various brokerage compensation and other inquiries, independent insurance agents are worried about how the insurers themselves are responding to the pressure for disclosure of agent and …
If Alex Letts, the CEO of London’s RI3K, a leading provider of technology infrastructure for the reinsurance industry, didn’t already exist, someone would have to invent him. Letts, whose background is in marketing, not insurance, proved once again that he …
Massachusetts insurance customers of insurance broker Marsh & McLennan are being urged to hold off on agreeing to the broker’s proposed settlement by the state’s attorney general. Attorney General Tom Reilly’s office has mailed a letter to an estimated 300 …
American International Group Inc.said first-quarter earnings were 20 percent higher than a year ago, which was a stronger performance than analysts had expected. The New York-based insurer, which is under investigation by state and federal regulators over accounting issues, had …
Two former executives of a failed malpractice insurer were sentenced in federal court this week as part of an ongoing fraud investigation that has helped expose troubling practices in the industry. Kenneth R. Patterson, former president of Reciprocal of America, …
New York Attorney General Eliot Spitzer and State Superintendent of Police Wayne Bennett recently announced the indictment of 12 individuals involved in reported auto theft and insurance fraud in Orange County. The arrests were a result of a joint investigation …
The National Association of Professional Insurance Agents steadfastly supports state regulation of insurance, strongly opposes an optional federal charter and has cautioned carriers against adopting company-specific disclosure requirements, according to the association’s executive vice president and CEO Len Brevik. In …
