Mass. needs new insurance capital to weather big storm The Massachusetts economy could be battered if a major storm were to hit the metropolitan Boston area because the state’s homeowners insurance market is undercapitalized, the state’s insurance regulator is warning. …
The Federal Bureau of Investigation conservatively estimates that cargo theft costs about $18 billion a year, while the General Accounting Office pegs the number between $20 billion and $60 billion a year. This figure includes the cost of filing, investigating, …
Thousands of workers employed by some of the state’s top retailers, restaurants and hospitals in Massachusetts are relying on taxpayers to pick up the tab for their health care, according to a report released this week. The state spent nearly …
A retired Massachusetts lawyer secretly held seven stolen paintings, including a Paul Cezanne still-life worth millions of dollars, for 28 years because he wanted a 10 percent finders fee, the Boston Globe reported Wednesday. The paintings, including Cezanne’s “Bouteille et …
The Senate Banking Committee’s discussion on Thursday of proposed reforms to the National Flood Insurance Program (NFIP) was reportedly an important step, and the Independent Insurance Agents & Brokers of America (the Big “I”) hopes to see common-sense changes as …
Provider Insurance Group has named Jamie Moran as an employee benefit specialist in the insurance agency’s Woonsocket, R.I. office. As an employee benefit specialist, Moran performs administrative duties assisting employees, retirees and insurance carriers regarding employee health, dental and vision …
On March 23, the Chartered Pproperty Casualty Society and its Central Massachusetts and Boston Chapters will be hosting two CPCU Society National Leadership Institute courses, Strategic Thinking and Strategic Planning. The CPCU Society National Leadership Institute (NLI) is for insurance …
The Hanover Insurance Group Inc., based in Worcester, Mass., reported a big increase in net income for the fourth quarter of $114.5 million, or $2.11 per share, compared to net income of $63.1 million, or $1.18 per share in the …
A plan to redistribute residual market auto insurance policies among insurance carriers and agents in Massachusetts has been approved by state officials. The final plan for Commonwealth Auto Reinsurers will require that about 133 exclusive representative producers, who are agents …
Massachusetts is facing a shortage of insurance capital that could jeopardize the state’s entire economy, especially if a major storm hits the metropolitan Boston area, the Commonwealth’s insurance regulator is warning. A major storm hitting the metropolitan Boston area would …
