North Carolina News

Democrats Seize Control in State Legislatures

The two major parties are no longer locked in parity in state legislatures. Wresting control from the GOP in all the chambers that changed hands outright, the Democrats now control the legislatures in more states than they have since 1994. …

Declarations

Ups and downs “It now appears clear that the industry’s record profits in 2004 and 2005, and the exceptional record profit about to be reported for 2006, are due in large part to the years of huge rate hikes in …

Long Island makes Top 10 Hurricane-Prone List

Dr. Stephen P. Leatherman, director of the International Hurricane Research Center at Florida International University in Miami, released his list of the Top 10 Most Vulnerable U.S. Mainland Areas to Hurricanes. Not surprisingly, New Orleans tops the list. The other …

People and places

David Soucy, a third generation owner of the family independent insurance agency, Soucy Insurance Agency, of Woonsocket, R.I., was sworn in as president of the Independent Insurance Agents of Rhode Island at the association’s 106th annual conference. IIARI also elected …

Insurance not to blame for high cost of doing business in Mass.

A study by a Boston-based think tank shows that Massachusetts firms in nine selected industries including financial services have costs that are on average 20 percent to 30 percent higher than similar companies in Texas, North Carolina and New Hampshire. …

Former Enron CEO Skilling sentenced to 24 years, 4 months

Standing before a federal judge and pleading for his life, Jeffrey Skilling looked contrite, hands folded below his waist, his voice at one point halting as he talked about Enron Corp., the failed company he headed and drove to the …

People and Places

Chris Hughes, with Swingle, Collins & Associates, is the new president of the Independent Insurance Agents of Dallas. Swingle Collins reported that Hughes joins officer ranks with firm president, Frank Swingle, whose term as president-elect of the Independent Insurance Agents …

Flying solo now, former Zurich executive ‘gooses ‘ agents

A retired insurance industry executive turned turbo-charged motivational speaker told a group of independent insurance agents that they are the greediest people he has ever met. Ray Thomas, a former Zurich North America Small Business CEO, meant his remark as …

IIABA president: contingency commission crisis threatens agents

For a small to mid-size independent insurance agency, contingency commissions can determine whether the business survives, according to many in the industry. That explains why Alex Soto, a Miami agent who is also president of the Independent Insurance Agents and …

It Figures

$20 million The amount about 400 people should receive from monies held by Lexington, Ky., lawyers who sued American Home Products in 2001 on behalf of users of the fen-phen diet drug. Special Judge William Wehr ordered that funds be …