It Figures
$12.1 Million Cumulative amount of bonuses to be paid to several top executives at AIG, after U.S. pay czar Kenneth Feinberg signed off on the deal. The payments were promised in 2008 to get key employees to stay with AIG …
Study: Workers’ Compensation Public Options Outperform Private Industry
State funds blunt the impact of bigger losses through concerted loss prevention efforts. An insurance industry think tank has concluded that 25 public and quasi-public workers’ compensation insurance plans perform better financially than the private market in a number of …
Business Moves
Combined Agents, First Texas, Lake Combined Agents of America LLC (CAA), based in Austin, Texas, has added two new members: First Texas Insurance Services LC of Arlington, Texas; and Lake Insurance Agency Inc. of Laverne, Okla. CAA now has 44 …
New Markets
The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Apartments Low Income Subsidized Housing Market Detail: Housing Insurance Services offers programs through two admitted …
Sheffield to Tout Regulatory Role in Georgia Insurance Commissioner Race
Attorney Maria Sheffield has become the latest candidate to enter the Republican primary to be the next insurance commissioner in Georgia. She is one of several candidates hoping to succeed current Insurance Commissioner John Oxendine, who is running for governor. …
U.S. Insurance Commissioners Host 13 International Regulatory Interns
The organization of state insurance commissioners welcomed 13 interns from Azerbaijan, China, Egypt, Saudi Arabia, Thailand and Zambia to the U.S. this week. The National Association of Insurance Commissioners (NAIC) has sponsored its International Internship Program for Education and Regulatory …
Gallagher Buys Hawaii Agency
Arthur J. Gallagher & Co. has acquired Triad Insurance Agency, Inc., in Honolulu, Hawaii from The Bank of Hawaii. Terms of the transaction were not disclosed. Originally founded in 1967, Triad Insurance Agency, Inc. is a managing general agent and …
California Brokerage Offers Graphic Design Program
Professional Program Insurance Brokerage of Novato, Calif., has a new program for Graphic Designers. This professional liability coverage is offered through an “A” rated carrier. Four levels of liability coverage are available and they include $100,000; $250,000, $500,000 or $1 …
Willis Appoints Margrett COO – Global Captive Practice
Willis Group Holdings announced that Pauline Margrett has been appointed Chief Operating Officer for its Global Captive Practice. She is based in London and will report to Tom Coughlin, the Global Captive Practice leader. The announcement notes that Margrett’s career …
Florida Approves 14.6% Homeowners Insurance Rate Hike for Universal
Universal Property and Casualty Insurance Co. (UPCIC) reports it has received approval for a premium rate increase for its homeowners program in Florida. The premium rate increase, which will average approximately 14.6 percent statewide, was approved by the Florida Office …
