Beacon Mutual Insurance Co. will pay a $2.5 million fine, refund $7 million to policyholders and continue to implement various management changes as the result of a long-awaited audit by Rhode Island officials of the state’s biggest workers compensation company. …
After persuasion from New Jersey’s governor and attorney general, UPS Inc. said Monday that it would extend health insurance benefits to the civil union partners of gay employees in New Jersey covered by a union contract. The policy change has …
The Hanover Insurance Group, Inc. in Worcester, Mass. reported net income for the second quarter of $59.8 million, or $1.14 per share, compared to $50.9 million, or $0.99 per share in the second quarter of last year. Income from continuing …
Vincent Zarrilli knows a thing or two about lost causes. His proposal to convert an aircraft carrier to a prison went nowhere. And his calls for an alternative to the Big Dig went unheeded, as did his desire to create …
Massachusetts insurance agents aren’t happy about the decision to introduce competitive rating into the state’s price-regulated private passenger auto insurance system. They enjoy the best market share (86 percent) in the country under the current system and don’t want to …
The Commerce Group, Inc. in Webster, Mass. reported 2007 second net earnings were $41.5 million, or $0.63 per diluted share, compared to net earnings of $58.6 million or $0.86 per diluted share for 2006. Included in the 2006 second quarter …
Connecticut’s Webster Financial Corp., the parent of Webster Bank that owns the state’s largest insurance agency, could be out of the insurance agency business soon. Following a strategic review begun last September, the bank has decided to focus on its …
Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted yesterday to add wind coverage to the National Flood Insurance …
Central Insurance is re-entering the Massachusetts commercial auto insurance marketplace after a 17-year absence. Since 1990, Central has been a commercial lines only insurer in Massachusetts, writing primarily commercial package, umbrella and workers’ compensation, but not auto. Now agents who …
Kevin S. Whooley has been appointed as a marketing representative at Meadowbrook/TPA Associates, a member of the Meadowbrook Insurance Group. In this role, Whooley will work with independent agents throughout New England to facilitate the growth of the company’s insurance …
