Illinois News

States Allow Aon Brokers to Phase-Out Contingents

Insurance broker Aon Corp. reported that the five government agencies to its 2005 settlement have agreed to an amendment that will permit companies it acquires to continue to accept contingent commissions on existing business for three years following their acquisition …

Chicago Cops Charged in Insurance Scam

A Chicago police officer working with a tow company owner and another policeman allegedly scammed an insurance company, authorities said. According to a news account in the Chicago Sun-Times, Officer Joseph A. Grillo was arrested on June 5 at O’Hare …

Death Toll Stands at 10 in Aftermath of Midwest Tornadoes, Flooding

The death toll now stands at 10 in the Midwest as tornadoes, severe thunder storms and flooding hit Indiana, Illinois and Wisconsin beginning June 6. States battled tornadoes that touched down in multiple areas, heavy winds and hail damaged autos …

It Figures

$300,000 Owners of pit bulls, Rottweilers and Doberman Pinscher in Kenmare, N.D. won’t have to get rid of them, if they license the dogs and keep them secure. Kenmare City Council members had considered a ban on some dog breeds …

Insurers Blast Regulators as Closed to Open Dialogue

The National Association of Insurance Commissioners is losing trust because it at times operates behind closed doors and is not open to dialogue with the insurance industry. That was the criticism of NAIC, as voiced by representatives of the American …

People Lockton Companies recently named Kevin McDaniel as president of its St. Louis office. McDaniel succeeds Whity Meyer, who was named chairman. McDaniel joined Lockton more than 10 years ago as a producer and most recently has been an executive …

States Allow Firms Purchased by Aon to Phase-Out Contingent Commissions

Insurance broker Aon Corp. reported that the five government agencies to its 2005 regulatory settlement agreement agreed to an amendment that will permit companies it acquires to continue to accept contingent commissions for a limited time. Under the amendment, a …

Anti-Bias Laws Cover Retaliation Claims, U.S. Supreme Court Rules

Employees who complain of racial bias in the workplace and then face retaliation can sue under a post-Civil War-era law barring discrimination, the U.S. Supreme Court ruled in late May. In a second similar decision, the high court ruled that …

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. Custom Home Builders Market Detail: Lemac & Associates, a division of Risk Placement Services Inc. …

Brokerage Stocks Down; M&A Activity Continues at Strong Pace but Slower Than 2007

Stock Prices: The brokerage sector as a whole is down 3 percent for the year. Among middle-market brokers, Arthur J. Gallagher’s (NYSE:AJG) stock has faired well compared to peers Brown & Brown (NYSE:BRO), down 16.6 percent, and Hilb Rogal & …