The reason independent agencies struggle to attract customer service representatives (CSRs) is that agencies just do not pay them enough. Instead,agencies overpay their producers. Consultant Virginia Bates thought she would be jeered after expressing this opinion at a recent meeting …
The Massachusetts auto insurance industry is streamlining the way it handles high risk commercial auto risks by reducing the number of servicing carriers involved in handling them and equalizing access to the residual market for all agents. Under yesterday’s vote …
Manulife Financial Corporation has received approval from the Massachusetts Division of Insurance (DOI) for its proposed merger with John Hancock Financial Services, Inc. The DOI is the principal U.S. regulator for John Hancock. During the hearing held by the DOI, …
A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of the OneBeacon Insurance Group (Boston, Mass.) and Folksamerica Reinsurance Company (New York, N.Y.). OneBeacon’s rating is based on its strong capitalization and improved earnings prospects, which are …
Fitch Ratings has affirmed the ‘A+’ senior debt rating and ‘F1’ short-term rating of Marsh & McLennan Companies Inc. (MMC). The senior debt rating has been removed from Rating Watch Negative and the Rating Outlook is now Stable. The action …
In a targeted effort to reduce the number of fraudulent auto insurance claims that drive up premium costs for residents of Springfield and Holyoke, Mass., a task force has been formed that combines the resources of the Insurance Fraud Bureau …
Allmerica Financial Corporation in Worcester, Mass. announced that Marita Zuraitis has been named president of Allmerica’s property and casualty companies, effective April 19. As president, Zuraitis will be responsible for the personal and commercial lines operations at Citizens Insurance Company …
The SAN Group independent insurance agency network in the Northeast reported continued growth, having added four new independent agency members during the first quarter of 2004! SAN is now comprised of 165 members writing over $205 million of property and …
Ken Mehlman, Bush-Cheney re-election campaign manager and political expert, will speak to young agents at the Independent Insurance Agents & Brokers of America’s annual National Legislative Conference, Young Agent-InsurPac Luncheon on April 21. The National Legislative Conference is the industry’s …
ACE USA, the U.S.-based retail operations of the ACE Group of Companies, announced the appointment of Ken Riegler as Senior VP of national business development and client services for ACE Risk Management (ARM). He will have overall responsibility for sales, …
