CPCU Society Looking at IMSA The property casualty industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid rigging and contingent commissions. A presidential task force of …
Mark Wells, publisher of Insurance Journal, recently spoke to Stan Simpson, the newly elected president of the Insurance Agents and Brokers of the West and a principal at Buckman-Mitchell Inc., an independent agency in Visalia, Calif. Simpson identified IBA West’s …
New York Attorney General Eliot Spitzer’s “reckless efforts to land himself on the front page” with high-profile investigations of America’s financial institutions are “making it harder to do business and create jobs in New York,” according to state GOP Chairman …
He finally met his match. After more than three decades at the helm of New York-based American International Group, it took less than a month for 79-year-old Maurice “Hank” Greenberg to go from the seemingly ageless, peerless chief executive of …
Although three major proposals to revamp insurance regulation are before legislators in some form, it appears that the industry’s ultimate goal of optional federal charters is nowhere close to fruition. Only the National Association of Insurance Commissioners’ interstate compact is …
PAULA Financial reported net income for the fiscal year 2004 of $0.14 per share compared to $0.22 per share in 2003. Net income for the fourth quarter 2004 was $0.01 per share compared to $0.08 per share in the 2003 …
The various investigations of giant insurer American International Group are continuing to take their toll. Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors later this week, ending his more than 40-year relationship with …
The Securities and Exchange Commission has sent subpoenas to as many as 12 executives at American International Group Inc. amid several probes into whether questionable accounting transactions were used to improperly bolster AIG’s financial standing, according to a Wall Street …
Barrington, Ill.-based Clark Consulting announced that it had received a subpoena from the office of the New York Attorney General Eliot Spitzer. The subpoena seeks information related to the benefits consultant’s business practices relating to the sale of retirement products, …
Marsh Will Drop ‘Unprofitable’ Accounts But MMC Will Keep Putnam and Mercer Units Giant insurance broker Marsh, battered by regulators, soft market prices and competitors in 2004, plans on dropping thousands of unprofitable accounts as it implements its new business …
