Allmerica Exits Life Sales Allmerica Financial Corp. is getting out of the variable annuity and variable life insurance business, selling those operations to The Goldman Sachs Group Inc. as part of a $385 million deal. Allmerica officials said the life …
MASSACHUSETTS Fed Probe Firing of MassMutual CEO: Federal prosecutors are investigating the conduct that led to the firing of former MassMutual Insurance Comany chief executive Robert J. O’Connell, the company disclosed in court documents. The company acknowledged the federal probe …
Preferred Club Program Nuts & Bolts: Venture Insurance Programs has expanded its Preferred Club Program through an exclusive program alliance with The Hanover Insurance. Co. Effective immediately, The Hanover Insurance Company, rated “A-” (Excellent), Financial Size Category XII by A.M. …
Employment Practices Liability Program Nuts & Bolts: Arrowhead General Insurance Agency Inc.’s professional liability division launched an employment practices liability insurance program for small- and mid-market businesses in 47 states. Highlights include coverage for full prior acts; specific coverage for …
Nuts and Bolts: Citizens and Hanover Insurance Companies have introduced a new, expanded Business Owners Policy, called Avenues Business Owners Policy (Avenues BOP), providing agents with flexible product for a wide spectrum of businesses in the small to mid-size commercial …
NAMIC ENCOURAGES RATE MODERNIZATION IN HAWAII: The National Association of Mutual Insurance Companies has told a Hawaii legislative committee that passing rate modernization laws would benefit state commerce and insurance consumers. According to NAMIC State Affairs Manager Christian John Rataj, …
Nuts and Bolts: The Principal Financial Group offers Principal Universal Life (UL) Protector II, which provides guaranteed death benefit protection for individuals’ businesses or personal estates. The policy gives individuals choices in guaranteed death benefit protection up to age 121, …
Critics of national class action suits were among those cheering the loudest after the Illinois Supreme Court dismissed a $1.06 billion judgment against State Farm Insurance involving the use of generic auto repair parts. The decision overturning the lower court …
The National Association of Mutual Insurance Companies has told a Hawaii legislative committee that passing rate modernization laws would benefit state commerce and insurance consumers. According to NAMIC State Affairs Manager Christian John Rataj, rate modernization would: Promote greater market …
The long working hours culture drives up the risk of workplace injury and illness, reveals a study by occupational medicine researchers, who also conclude that the risk has nothing to do with how hazardous the job is. After adjusting for …
