Operations News

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. Jewelers Block Nuts & Bolts: Jewelers Block is offering coverage including retail, wholesale and manufacturing …

Travelers Settles With States Over Brokers’ Contingent Commissions

The Travelers Cos. Inc. will pay $6 million to settle investigations in nine states and the District of Columbia over how it paid brokers. The St. Paul-based company said it had reached agreements with attorneys general in Michigan, Florida, Hawaii, …

Fla. Gov. Crist Weighs Suing Property Insurers Over Rates

Gov. Charlie Crist has asked three trial lawyers to review documents for a possible class-action lawsuit against property insurers, alleging that the industry hasn’t passed on savings to consumers as required by Florida law. Crist asked his general counsel and …

Travelers Settles With States Over brokers’ Contingent Commissions

The Travelers Cos. Inc. will pay $6 million to settle investigations in nine states and the District of Columbia over how it paid brokers. The St. Paul-based company said it had reached agreements with attorneys general in Michigan, Florida, Hawaii, …

13 Companies Approved to Self-Insure for Workers’ Comp in Texas

Thirteen companies with approximately 183,200 employees in Texas were approved to self-insure for workers’ compensation claims for a one-year period under the Texas Department of Insurance (TDI), Division of Workers’ Compensation Self-Insurance Program. The department announced that Commissioner of Workers’ …

Insurance Bureau of Canada Calls for ‘Heightened Cooperation’ on Quakes

Central Europe isn’t the only place in the world that faces earthquake threats (See related article). The Insurance Bureau of Canada has issued a call for the creation of an ongoing working group between the insurance industry and the provincial …

Hylant Group Names Savage Regional Chief Operating Officer in Michigan

Hylant Group, the nation’s seventh largest privately held commercial insurance brokerage, recently named Patrick Savage as the regional chief operating officer in Michigan. His position will serve Hylant’s offices in Detroit, Ann Arbor and Grand Rapids, and he will be …

S&P Revises Swett & Crawford’s Rating Outlook to Negative

Standard & Poor’s Ratings Services has revised its outlook on HMSC Corp., the intermediate holding company of Swett & Crawford Group Inc., to negative from stable, while also affirming its ‘B’ counterparty credit rating on HMSC. “The revised outlook reflects …

Great American Insurance Fights Mass. AG Bid-Rigging Charge

The Massachusetts attorney general has accused Great American Insurance Group of bid-rigging for what she says was a fake price quote it submitted in 2004 to a Norwood technology firm. Attorney General Martha Coakley last week filed a lawsuit alleging …

I.I.I.’s Hartwig Slated to Wrap Up Texas Agency Management Seminar

The Independent Insurance Agents of Texas’ 45th Annual Joe Vincent Management Seminar, to be held in Austin Jan. 27 – 29, will feature a motivational presentation by an Olympic speedskater and a rapid-fire wrap up by Insurance Information Institute President …