Hub International Limited announced today that it has acquired Scheer’s, Inc. one of the largest privately-owned retail insurance brokerages in the United States specializing in surety bonds. Scheer’s, headquartered in the Chicago suburb of Westmont, will become a new regional …
Allstate insurance companies can keep on writing new policies in Florida under an appeals court ruling that rejected the state’s attempt to stop them, but which also potentially sets up a quick resolution to the standoff. In the ruling issued …
Plaintiffs attorney Richard “Dickie” Scruggs, facing corruption and contempt charges in unrelated cases, will invoke the Fifth Amendment if forced to testify in a federal lawsuit involving Mississippi’s attorney general, according to court records. Scruggs is scheduled for a deposition …
For excess and surplus lines brokers, identifying available insurance markets not sought by the standard market may be the key to surviving and thriving in the soft market. The answer to growth in a soft market is simple, says Alan …
Hit by an increase in catastrophe losses, Northbrook, Ill.-based insurer Allstate Corp. saw its profit drop by more than 37 percent in the fourth quarter of 2007 compared to the same period in 2006. The fourth quarter net income of …
Enforcement actions taken by the Texas Department of Insurance December 2007 resulted in eight license revocations, four license denials, and fines and restitution totaling $1,591,264, the department reported. An order imposing disciplinary measures becomes final 20 days after the agent …
Arthur J. Gallagher & Co. today announced the acquisition of Crist Elliott Machette Insurance Services, Inc. of Oakland, Calif. Terms of the transaction were not disclosed. Incorporated in 1993, Crist Elliott Machette Insurance Services, Inc. (CEM) is a retail insurance …
Itasca, Illinois-based insurance brokerage Arthur J. Gallagher & Co. reported a drop in profit for the fourth quarter and announced it would sell its global reinsurance operation and its small Ireland-based wholesale brokerage. In an expense-cutting move, it plans on …
Illinois-based Insurance Auto Auctions Inc., an automotive total loss and specialty salvage service opened a greenfield operation in Pensacola, Fla. The new site in Florida’s panhandle represents IAA’s 8th location in the state. Source: Insurance Auto Auctions Inc.
Mississippi Attorney General Jim Hood must testify in a lawsuit filed by State Farm Fire and Casualty Co. that accuses him of violating an agreement to end a criminal investigation of the insurer’s handling of Hurricane Katrina claims, a federal …
