Iowa News

Venture Programs Notes New Atlanta Staff

Venture Programs Inc., (www.ventureprograms.com), a provider in designing, underwriting and administering industry-focused insurance programs, announced two new staff positions at its Southern Region office in Atlanta. Shelley Keenan has joined the company as production underwriter for the Southern Region and …

For Farm Mutuals, Mergers May be ‘Good, Bad or Ugly’ but Still Worth Considering

One mutual insurance company merger works out like a dream, while another devolves into a nightmare. Why? The dream mergers appear to take place when both partners are operating from positions of parity or strength and take the time to …

States Get Tough on Parents with Underage Drinking Liability Laws

Lenient parents best beware: A new generation of tough laws make parents liable for underage drinking. In the past decade, about 35 states have passed “social host” laws that make adults criminally and civilly liable when they provide alcohol to …

The Feds are Endangering Future of Crop Insurance

Ten years ago, the Federal Multi-Peril Crop Insurance Program covered fewer than 100 million acres of U.S. farmland. That number has more than doubled since 1994, and today it is close to 220 million acres. This is significant compared to …

States Loathe to Lose Say Over Insurance Plans

Strong objections are being voiced in the states to part of President Bush’s prescription to make health insurance more affordable for small businesses. The principal worry is that states will lose the ability to regulate certain insurance plans and protect …

People & Places

Roger Schmelzer The Marsh & McLennan board of directors announced it has accepted the resignation of chairman and chief executive officer Jeffrey W. Greenberg. Stepping in to immediately replace Greenberg is Michael G. Cherkasky, named president and CEO. Cherkasky was …

Accounting Faux Pas Costs EMC $441,000

Des Moines, Iowa-based property/casualty carrier EMC Insurance Group Inc. announced restated earnings for the third quarter and nine months ended Sept. 30, 2004, due to an error in the calculation of investment income for the third quarter of 2004. This …

Pa. AG Sues 16 Including Attorneys Over Alleged Widespread ‘Living Trust’ Sales Scam

Pennsylvania Attorney General Jerry Pappert has filed a civil lawsuit in Commonwealth Court accusing 16 defendants of engaging in an elaborate statewide living trust sales scheme, that deceived older Pennsylvanians into purchasing revocable living trusts, long-term annuities or charitable gift …

Iowa Insurance Educator Vaughan Dies at 69

Emmett J. Vaughan, a renowned professor of insurance at the University of Iowa’s Henry B. Tippie College of Business, has passed away at the age of 69. Funeral services will be held on Sat., Oct. 30, at St. Patrick’s Catholic …

Noodle Specialty To Distribute Surplus Lines Liability Products from A+ XV-rated Carrier

Noodle Specialty Brokers (NSB), a division of InsuranceNoodle, Inc., announced: “Surplus lines liability products from an A+ XV-rated non-admitted carrier are now available via appointed wholesalers in 17 states and the District of Columbia, or through InsuranceNoodle for its network …