Maine News

Governor Proclaims May 15-21 Hurricane Preparedness Week in N.C.

North Carolina Gov. Mike Easley has proclaimed May 15-21 hurricane preparedness week, just as a new survey of residents from Florida to Maine shows that people are not worried about hurricane season. The Mason-Dixon poll indicates most people along the …

Northeast Bank Sub Now Northeast Bank Insurance Group

Maine-based Northeast Bank announced that its subsidiary, Northeast Financial Services Inc, received approval to change its name to Northeast Bank Insurance Group Inc. Northeast Bank Insurance Group is the insurance sales arm of the company and was established as a …

The Family That Farms Together, Sells Insurance Together

Suydam Agency Firmly Planted in Community It Serves They could sweep me out of my office and I know that the business would continue just fine. But what am I going to do if I’m not here? I’m not going …

Financial Institutions

Nuts & Bolts: ISO introduced a new insurance program to protect financial institutions from employee dishonesty, forgery, computer crime, kidnap and ransom, and safe-deposit liability. The program includes policy forms and endorsements, underwriting rules, loss costs (projections of future claims) …

AIA Urges Lawmakers to Defeat Maine Premium Tax Increase

The American Insurance Association (AIA) is urging Maine lawmakers to reject a proposal (LD 1021) that would increase the premium tax by 25 percent. “This tax increase would damage the state’s economy by making it much harder for Maine domestic …

‘Miss Piggy,’ Hurricane Center Forecasters to Visit Charleston, S.C., Jacksonville, Fla.

Charleston, S.C. and Jacksonville, Fla. are two of five cities NOAA National Hurricane Center forecasters and NOAA Aircraft Operations Center crew will visit during a May 2-6, five-day mission. The purpose of the tour is to increase hurricane awareness; encourage …

Powell, Ridge and Oxley to Address PCI Annual Meeting this October in Chicago

Former Secretary of State Colin Powell, former Secretary of Homeland Security Tom Ridge, and U.S. Representative Mike Oxley (R – Ohio), will be the featured speakers at the 2005 Property Casualty Insurers Association of America’s (PCI) Annual Meeting, scheduled for …

GAY RIGHTS BILL BECOMES LAW:

Maine Gov. John Baldacci signed into law a bill to protect gays and lesbians from discrimination, making Maine the sixth and final New England state to do so. “This act not only offers essential civil rights, but serves as a …

Insurers Blast Maine Premium Tax Hike

The Maine Joint Committee on Labor, acting in a work session, has approved a bill to increase the state’s premium tax on several property/casualty insurance lines from 2 percent to 2.5 percent in order to fund retiree health insurance benefits …

After Years of Hikes, ProMutual Vows No Increase in Med-Mal Rates in Massachusetts for 2005

The largest writer of medical malpractice insurance in Massachusetts said it will not have to raise rates this year, after several years of double-digit hikes. ProMutual Group credited “improved financial strength” and “innovative patient safety initiatives that are having a …