Siding with a majority of courts in other states, the South Dakota Supreme Court ruled unanimously that auto insurers cannot be forced to pay policyholders for the lost market value of wrecked vehicles that have been repaired. The ruling in …
The Nasdaq Stock Market Inc. has entered into a definitive agreement to acquire Carpenter Moore Insurance Services Inc. (“Carpenter Moore”), a privately held, San Francisco-based insurance brokerage firm specializing in management liability. As a result of this transaction, NASDAQ’s insurance …
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 …
Gone are the days when the Midwest’s surplus lines market saw all sorts of business, from high-liability risks to garden variety commercial property coverage. For the region’s surplus lines business, the softening of the traditional insurance market means shrinking volume …
A.M. Best Co. placed the financial strength ratings of “A+” (superior) and issuer credit ratings of “aa-” of GeoVera Ins. Co., USF&G Specialty Ins. Co., both domiciled in Hunt Valley, Md., under review with negative implications, as well as Pacific …
Ronald L. Alexander has been named president and managing partner of Willis Group Holdings Ltd.’s Tennessee operations in Knoxville, Tenn. Alexander was formerly executive vice president and chief operating officer of Willis’s Tennessee operations. Alexander will be in charge of …
ARKANSAS Forged State Check Scam Centers on Ark. Arkansas Attor-ney General Mike Beebe’s office said it is among several state and federal agencies investigating an international scam involving forged copies of State of Arkansas checks. Operating from Turkey and possibly …
Gone are the days when the Midwest’s surplus lines market saw all sorts of business, from high-liability risks to garden variety commercial property coverage. For the region’s surplus lines business, the softening of the traditional insurance market means shrinking volume …
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: Geo. F. Brown & Sons, Inc. (GFB) is expanding its Illinois liquor liability program to a multi-state program. Available on an admitted basis in Illinois and non-admitted elsewhere, this new program is for all classes serving alcoholic …
