Morse Payson & Noyes, an affiliate of Banknorth Insurance Group, announced that Keith J. Lambert has been appointed as an account executive for large commercial lines throughout southern New Hampshire, Massachusetts, Maine and Connecticut. “In his new position, he will …
The Massachusetts Joint Committee on Criminal Justice has favorably reported out a bill designed to fight insurance fraud by cracking down on “runners” who promote auto insurance fraud. “The first step in effectively fighting auto insurance fraud is to treat …
The Alliance of American Insurers joined the NAII (see previous article) in urging quick approval of the proposed Massachusetts law that would prevent so-called “runners” from recruiting clients for unscrupulous attorneys and medical clinics. “We commend the committee’s efforts to …
Last July, David Schiff, editor and writer of Schiff’s Insurance Observer, wrote that John Hancock Financial Services’ CEO David D’Alessandro “should be fired” for taking approximately $21.7 million in compensation for 2002. He was one of the highest paid executives …
Last July, David Schiff, editor, writer and guiding light of Schiff’s Insurance Observer, wrote that John Hancock Financial Services’ CEO David D’Alessandro “should be fired” for taking approximately $21.7 million in compensation for 2002. He was one of the highest …
The Banknorth Insurance Group, part of the Banknorth Group, Inc., announced that it will open a new office, located at 116 South River Road in Bedford, New Hampshire. The Banknorth Insurance Agency “will serve customers in southern and central New …
Standard & Poor’s Rating Services reported that it revised its outlook on Marsh & McLennan Cos. (MMC) to negative from stable and affirmed its ‘AA-/A-1+’ counterparty credit rating on the company. “The revised outlook reflects Standard & Poor’s concern that …
Standard & Poor’s (S&P) Ratings Services assigned its “A” counterparty credit and financial strength ratings with a “stable” outlook to Commerce Insurance Co. (CIC) and Citation Insurance Co. Both companies are Mass.-based subsidiaries of The Commerce Group Inc. (CGI), a …
Nuts & Bolts: Helix Insurance has a market available for healthcare environmental liability. Dollars: $1 million per claim/$5 million Agg. Deductibles of $0 physician groups/$5,000 institutions. Minimum premium of $2,000. Carrier: USF Insurance Co., “A”-Rated. Non-admitted market. States Available: Alabama, …
Nuts & Bolts: The Princeton Agency/United Underwriting Agency is offering a market for monoline workers’ compensation. Dollars: EL up to $1M/$1M/$1M. No minimum premium up to $50,000. Carrier: Rochdale Insurance Company, Technology Insurance Company, The Hartford, The Guard. Rated “A-” …
