26.4% The U.S. Department of Agriculture said crop insurance companies posted profits of 26.4 percent last year, and the federal government wants to reduce its spending on crop insurance. Participating farmers pay premiums but the government subsidizes the program to …
Business Moves
Fiesta Auto Huntington Beach, Calif.-based Fiesta Auto Insurance, a franchise system that combines insurance and tax preparation under one roof, recently opened 20 new offices in various locations, increasing its presence to more than 60 open locations throughout the United …
Obama Administration Defends Healthcare Law in First Court Test
The Obama administration has urged a court to reject an attempt to block a controversial new law overhauling the U.S. healthcare system, saying it is constitutional and any challenge is premature. The reforms, a top priority of President Barack Obama, …
Fremont Michigan InsuraCorp, Northern Mutual Insurance Plan Alliance
Fremont Michigan InsuraCorp Inc., a Michigan-exclusive property and casualty insurance company headquartered in Fremont, Mich., and Northern Mutual Insurance Co. (Northern), a Michigan mutual insurer have agreed to a strategic alliance between the two insurers. Northern intends to convert to …
Affirmative Insurance Reports Increased Revenue in Q1 2010
Addison, Texas-based Affirmative Insurance Holdings Inc., a distributor and producer of non-standard personal automobile insurance policies, reported that gross premiums written and total revenues increased during the first quarter of 2010 compared with the same period in 2009. Total gross …
Mercury Partners with Personal Lines Growth Alliance
The Personal Lines Growth Alliance (PLGA), a coalition within the independent agency system, announced that Mercury Insurance Group is a founding financial partner. Mercury is the first of many insurance carriers that will become financial partners, according to PLGA Chair …
Wisconsin Gov. Signs Texting Bans; Insurers Warn Against All Distractions
Wisconsin Gov. Jim Dolye has signed legislation banning drivers from sending text messages while driving. Wisconsin joins Iowa, Kentucky, Michigan, Nebraska and Wyoming as the states to pass laws that ban all drivers from sending text messages this year, according …
H.W. Kaufman Financial Group Acquires US Reports
H.W. Kaufman Financial Group, a privately held company headed by Alan Jay Kaufman, has acquired Colorado-based US Reports Inc. – a national loss control inspection, premium audit and risk management services firm. US Reports is a family owned 70-employee risk …
Fremont Michigan InsuraCorp Sees Growth in Q1 2010
Fremont Michigan InsuraCorp Inc., a Michigan-exclusive property and casualty insurance carrier, reported revenues of $14.9 million for the first quarter of 2010, up 9.4 percent from revenues in the first quarter 2009. Highlights for the quarter include: Net income of …
Declarations
Lawsuits and Criminal Convictions “We disagree with Mr. Castaneira’s version of the events alleged in this latest complaint. … The record regarding Mr. Castaneira’s prior lawsuits and criminal conviction speaks for itself.” —South Dakota-based Midland National Life Insurance Co. issued …
