Operations News

New producer must have ‘skin in the game’ on the first day on the job

In almost every aspect of any business, the best day to do everything is the first day, especially when it comes to a new producer’s first day on the job. In order to make the most of the agency’s investment, …

Conn. AG probes insurer, agency relationship

Connecticut Attorney General Richard Blumenthal has issued subpoenas in an investigation of bonus commissions and other possible financial arrangements between Middlesex Mutual Assurance Co. in Middletown and H.D. Segur Inc., a large Connecticut insurance agency. “The subpoenas are part of …

Tim Wagner, Nebraska, Director of Insurance

Director of Insurance L. Tim Wagner has spent close to 40 years in the insurance industry, the last nine as the appointed Nebraska regulator. He takes his role seriously and believes the insurance industry has a real impact on the …

The impact of contingent commissions on independent agencies

How much do independent agencies rely on contingency income and could they survive without it? Debate continues in the insurance industry regarding the future of contingent income. Any drastic changes in the current compensation structure would have far-reaching effects throughout …

Julie Mix McPeak, Kentucky, Executive Director, Office of Insurance

Julie Mix McPeak, an attorney with more than a decade of experience in state government, was appointed executive director of the Kentucky Office of Insurance (KOI) by Gov. Ernie Fletcher last June. McPeak succeeded Glenn Jennings. The following is an …

Arrowhead Wholesale Adds Commercial Mid-Market Package Program

Arrowhead Wholesale Insurance Services LLC has added a market for mid-size to larger multi-family and commercial real estate accounts. Minimum $10 million total insured value of buildings per account (all locations) with capacity up to $400 million per location. Consideration …

Georgia’s Oxendine Defends Main Street Agents in Compensation Battle

Exclusive Video Interview Oxendine: Insuring Coast Against Wind, Big Insurers Georgia Insurance Commissioner John Oxendine, who was recently elected to his fourth four-year term, thinks Main Street insurance agents are being treated unfairly in the debate over agency compensation and …

Ohio Ward Group Conducts Study of Insurance Company Benefits

Cincinnati-based Ward Group, a provider of benchmarking and best practices consulting services, is conducting an in-depth study of employee benefits at insurance companies. The study will provide extensive information about the design of employee benefit plans, including medical, dental and …

MarketScout Opens Chicago Office

MarketScout Corp., a Dallas, Texas-based eInsurance Exchange specializing in the distribution of property and casualty insurance products, has announced the opening of a Chicago location to facilitate its growth in the Midwest. “We will expand all of our offerings via …

Safeco to cut homeowners, commercial rates across California

Seattle-based Safeco announced it will be cutting rates for California homeowners in 2007 by an average of 20 percent. The move is expected to affect some 200,000 Safeco home and business customers in California, according to the company. Additionally, the …