Liberty Mutual Group is throwing in the towel on direct distribution of insurance to middle market businesses. Since it couldn’t beat independent agents and brokers – who dominate sales in this segment – Liberty Mutual has decided to join them. …
The Wisconsin Supreme Court has ruled in favor of an insurance company that argued that the underinsured motorists endorsement to a farmer’s business auto policy applies to an injured family member only if he was in a covered vehicle. Jonathan …
Donegal Group’s Strategy Has Helped It Grow From Writing in 1 State to 19 in 20 Years Even in a good economy, mutual insurers face challenges trying to raise the capital they need to grow since they don’t have any …
Stock Price: Commercial lines stocks mirrored those of major indices in 2008, trading down 14 percent. Mergers & Acquisitions: Middle market carriers continue to be major players in the acquisition market as they look to wholesalers and managing general agencies …
After State Farm announced it would be leaving behind 1.2 million property policyholders within the next two years, state officials expressed confidence that the private insurance market, including a number of relatively new Florida-only insurers, would rescue the business. Now …
The Arizona Legislature is debating a bill that would prohibit a state or local authority from using photo enforcement systems to detect speeding violations on state highways. If passed, the bill, HB 2106, also would repeal the state photo enforcement …
Michigan’s insurance consumer advocate is charging that drivers are paying a high cost for years of state deregulation of insurance and record insurance company profits. Gov. Jennifer Granholm has threatened penalties for any insurance carriers that do not go along …
A report from Standard & Poor’s Ratings Services entitled, “Tough Times Will Challenge Russian Insurers In 2009-2010”, published on its RatingsDirect web site, concludes that “Russia’s insurance market is still developing and will come under unprecedented stress in 2009-2010 in …
Florida Chief Financial Officer Alex Sink is urging State Farm Florida to “immediately” let its agents do business with other insurance companies for their more than one million policyholders now that State Farm is withdrawing from the state. But State …
The accidental deaths of two teenage boys at an excavation site in 1997 were separate occurrences under the liability insurance policy of the property owner, the Illinois Supreme Court has ruled in reinstating a $2 million judgment against the insurer. …
