Declarations
Row Own Boat “Taxpayers should be a last resort rather than a cheap source of capital … We’ll row our own boat.” —Evan Greenberg, Ace Limited’s CEO, chiding insurers that have hinted they might ask to take part in the …
Business Moves
Appalachian Underwriters, Florida Tennessee-based Appalachian Underwriters Inc. established a commercial brokerage division and will open a new office in Sarasota, Fla. to house the new operation. AUI will focus on property and casualty risks that are unique, unusual or require …
People
The Independent Insurance Agents of North Carolina elected Neil T. Annas as the association’s new president for the 2008 to 2009 term. Annas, president of Granite Insurance Agency Inc. in Granite Falls, N.C., was elected during the 111th IIANC Annual …
North Carolina, Florida Join States Lowering Workers’ Comp Rates
North Carolina and Florida have joined the ranks of states where workers’ compensation costs are falling. North Carolina Insurance Commissioner Jim Long approved a North Carolina Rate Bureau filing for a 4.4 percent decrease in the voluntary market and a …
Brooke Corp.’s Prospective Buyers Say ‘No’ to Deal
Company Declares Bankruptcy Kansas-based Brooke Corp. has laid off most of its staff after prospective buyers withdrew an offer to purchase the financial services holding company. The Overland Park-based company and Brooke Capital Corp. filed for Chapter 11 bankruptcy protection …
Retail Agents Left Wondering About Austin Surplus Lines
Austin Surplus Lines, a managing general agency with offices in the Austin, Dallas and Houston areas, apparently has ceased conducting some or all of its contracted business, to the surprise of at least some of its appointed agents. An independent …
Brooke Corp. Troubles Continue as Stock is Sold
Kansas Franchise Group Faces Lawsuits in Multiple States Amid the flurry of lawsuits leveled by franchisees, now an Illinois company connected to a bank involved in the lawsuit of the parent company of Brooke Corp. has taken control of 44.3 …
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. Employer Stop Loss Market Detail: Markel Insurance Co. provides customized stop loss solutions for sponsors …
Insurance Industry’s Political Contributions to Democrats Spike in 2008
Political contributions to Democratic candidates in the 2008 election spiked more than 10 percent overall, according to data from the Center for Responsive Politics, a nonpartisan, independent research group that tracks money in U.S. politics and its effect on elections. …
States Made History in November Election, Too
Barack Obama wasn’t the only one to make history Nov. 4 when he was elected the first black U.S. president. Statehouses also broke ground on several fronts. New Hampshire became the first state in U.S. history to give women the …
