Each year before Groundhog Day, the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to come out of their holes, look around for their shadow and forecast the outlook for the industry. Legend has …
The American Agents Alliance, representing over 2,000 independent agents and brokers in California and Arizona, criticized attorney Norman Goldman for filing an amendment to a compliant he filed in 2003 against Aon Insurance Company subsidiary Auto Insurance Specialists (AIS), a …
New York Attorney General Eliot Spitzer said today that the monies from the $850 million settlement his office negotiated with Marsh would be used to refund insureds who wish to take advantage of the funds. “Not a penny goes to …
A new report by a national consumer organization claims that contingent fee arrangements “similar” to those being investigated by New York Attorney General Eliot Spitzer in commercial insurance brokerage are “quite common” in the sale of personal lines insurance to …
Massachusetts trial lawyer Robert Bonsignore is prepared to file a class action suit in U.S. District Court today in Boston accusing insurance broker Marsh and several insurers of price-fixing and consumer fraud. Bonsignore said his suit would target Ace Insurance …
Itasca, Ill.-based brokerage Arthur J. Gallagher & Co. reported fourth-quarter net income of $49.1 million, down from $49.2 million a year ago, though revenue was up 6 percent to $386.9 million. The results fell short of analysts’ estimates of 56 …
While it did not begin boiling over until last October when charges were brought against Marsh, the controversy over brokerage contingent fees has actually been simmering for more than a half dozen years in New York insurance circles. Back in …
The Independent Insurance Agents & Brokers of New York looks forward to working with New York’s next Superintendent of Insurance and is hopeful the major strides begun by his predecessor will continue to benefit the state’s economy, homeowners, motorists and …
There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the story of a broker inputting …
There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the story of a broker inputting …
