Montana News

Announcing the Redomestication of National Contractors Insurance Company, Inc., A Risk Retention Group to Montana!

National Contractors Insurance Company, Inc., a Risk Retention Group (NCIC) specializing in general liability insurance for licensed residential and commercial general and artisan contractors, has redomesticated to Montana, effective February 5, 2009. NCIC writes the difficult Classes: Roofers, Foundations, Excavators, …

Montana Wants More State Fund Oversight

The Montana State Fund is bucking a proposal for more legislative oversight of its workers’ compensation insurance program. A state lawmaker says the state is on the hook for financial shortfalls at the quasi-private operation. Democratic Sen. Ron Erickson said …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. High-Value Homeowners’ Protection Market Detail: Irwin Siegel Agency Inc. brings agents access to AIG’s Private …

Montana Lawmakers Debate Insurance Gender Discrimination

The insurance industry said it could lower some rates if allowed to consider gender when evaluating risk, advocating yet another attempt to repeal Montana’s unique “unisex” insurance law. Supporters of the old law said it isn’t fair to establish different …

Avalanche Experts Cite Human Factor in Snowslides

Backcountry adventurers increase their chances of being killed in snowslides when they overestimate their own abilities, said avalanche experts meeting in central Idaho. At a public forum, the experts also said the danger increases when skiers, snowboarders and snowmobilers succumb …

Montana Senate Advances Fire Bills

The Montana Senate advanced a plan to identify and map the so-called wildland-urban interface — where homes or other development meet woodlands — despite worries the proposal eventually could harm development. The idea emerged from a yearlong study looking for …

Great Northwest Insurance Outlook Revised to Negative by A.M. Best

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of B+ (Good) and issuer credit rating (ICR) of “bbb-” of Great Northwest Insurance Co., which is headquartered in St. Paul, Minn. …

Montana Bill Suggests Implementing Fire-Safety Incentives

Spending to stomp out wildfires could be reduced by training and rewarding homeowners to practice fire-safety defense, Montana lawmakers said, as they presented several bills intended to cut costs. The bills could force insurers to offer discounts to homeowners living …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Mono-line Property for Coastal Exposures Market Detail: CATalyst Property Insurance from Venture Programs gives agents …

Even Best Practices Agencies Struggle To Grow in Soft Market

Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) recently released its annual “Best Practices Study,” a study of the leading agencies and brokers in the country The independent …