New Jersey News

A Franchise Model for Insurance Agencies

Fiesta Auto Insurance Combines Insurance and Tax Preparation Services Under One Roof Modeling an insurance agency business after a sandwich shop might sound like a strange idea, but that’s what John Rost, founder, president and CEO of Fiesta Auto Insurance, …

Lloyd’s McGovern Navigates Turbulent U.S. Waters; Part I

A recent article in Lloyd’s “Market” magazine noted that Sean McGovern, General Counsel and, since February 2010, the Director of Lloyd’s North America, “loves to mess about in boats in his spare time.” As he’s now responsible for two posts, …

Imprisoned New Jersey Woman Indicted for Auto Insurance Fraud

New Jersey prosecutors say a woman who is currently serving a five-year sentence for insurance fraud and identity theft has been indicted in a separate insurance fraud scheme to steal over $8,000 from Liberty Mutual. Dalynn White, also known as …

Two Killed as Combine Strikes Power Lines on New Jersey Farm

New Jersey State Police say a farm machine struck overhead power lines and caught fire, killing two workers and injuring a third. Sgt. Julian Castellanos says a chute on a combine the men were operating snagged high-tension wires at about …

Settlements Reached in Deadly New York Plane Crash

Families of at least five passengers killed when a plane crashed into a home last year have reached settlements with the airlines involved, and more agreements are expected before a wrongful-death trial begins, lawyers said. So far, 39 lawsuits have …

Ratings Recap: Western General, Lumbermen’s, AttPro RRG, Aspen Specialty, ILM Group

A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and the issuer credit rating (ICR) of “bbb+” of Western General Insurance Company. Best indicated that, although the outlook for the FSR is stable, the outlook for the …

Most 9/11 Responders OK Settlement Resolving Suit

A lawyer representing 10,000 ground zero workers suing New York City over their exposure to World Trade Center dust said Tuesday that 75 percent have signed a settlement resolving their claims and most of the rest have indicated they will …

Tharpe Joins Jimcor’s Professional Liability Team

New Jersey-based wholesaler Jimcor Agencies has hired Frazier J. Tharpe as professional liability specialist. Tharpe has 25 years of experience having worked on the carrier, wholesaler and claims sides of the insurance industry, concentrating in professional liability coverage. __ Source: …

Florida Medical Malpractice Insurance Market Found in Good Health

Medical malpractice insurers writing in Florida earned an average return on surplus of 6.6 percent in 2009, their sixth straight profitable year, although their profits were lower than in 2008. That’s one of the news items in the state’s 2010 …

Brown & Brown Acquires Martin Benefits

Insurance broker Brown & Brown Inc. has acquired New York-based Martin Benefits Consulting and Martin Human Resources. Terms of the deal were not disclosed. The businesses — which have combined annual revenues of approximately $3 million — offer employee benefits …