Illinois News

Top 100 Privately-Held Property/Casualty Agencies

Top 100 Privately-Held Property/Casualty Agencies Ranked by Total 2008 P/C Premium Written 2008 Rank Agency Name, Main Office 2008 P/C Premium Written 2007 P/C Premium % Premium Change 2008 Other than P/C Premium 2008 P/C Revenue 2008 Rank by Revenue …

Top 20 Bank Holding Companies in Insurance Brokerage Fee Income

Top 20 Bank Holding Companies in Insurance Brokerage Fee Income (2008/Nationally) Rank 2008 Insurance Brokerage Fee Income Bank Holding Company Name City, State 1 $1.60 billion Wells Fargo & Co. San Francisco, Calif. 2 $1.21 billion Citigroup Inc. New York, …

Illinois Allows Retail Contingent Commissions for Arthur J. Gallagher

In a filing of financial results for the second quarter 2009, Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. reported that amended settlement agreements with the Illinois Attorney General and the Illinois Department of Insurance will allow it to …

Chicago West Suburban Chapter of CPCU Society Installs New Board

The Chicago West Suburban Chapter of the CPCU Society has a new board of directors in place for the 2009-2010 year. Joseph Harrington is the new chapter president, succeeding Elizabeth Lupetini, who moves on to become a district governor for …

Arthur J. Gallagher Reports Q2 Results; Slight Drop in Organic Revenue

Arthur J. Gallagher & Co. reported a slight drop in organic revenue of just 0.3 percent for the second quarter 2009 for its combined insurance brokerage and risk management units. For the quarter ending June 30, 2009, AJG reported $340.1 …

Chicago-Based Insurance Group Entering U.S. Latin American Market

The Wyncrest Group Inc., a niche insurance consortium based in Chicago, Ill., announced its entrance into the Latin American insurance market in the U.S. The company said its pending acquisition of Florida Insurance Consulting Inc. will provide an avenue for …

Connecticut Fines Safeco $434K over Numerous Violations

The Connecticut Insurance Department has fined Safeco Cos. $434,000 following a market conduct exam of the five subsidiaries for the insurer. The fines are for violations that include improper cancellations, improper rating and using unlicensed agents and adjusters among others. …

Federal Judge: Oklahoma Can’t Seek Damages in Poultry Lawsuit

Oklahoma can’t pursue monetary damages in its environmental lawsuit against a dozen Arkansas poultry companies because it didn’t name the Cherokee Nation as a plaintiff, a federal judge ruled in a major blow to the state. Oklahoma had hoped to …

Insurance Association Develops Green Building Risk Options

The Wheaton, Ill.-based American Association of Insurance Services (AAIS) has developed new, standardized builders’ risk insurance policy forms that provide coverage for loss exposures related to the “green” certification of an insured project. The forms appear in the Builders’ Risk …

Survey: Illinois Small Businesses Crushed by Rising Health Costs

Illinois small business owners are being crushed by rising health care costs, and feel left out of the current health care debate in Washington, according to a report recently released by Illinois Public Interest Research Group in Evanston. The new …