Operations News

Chicago Brown & Sons Name National Accounts Risk Specialist

Chicago, Ill.-based Geo. F. Brown & Sons, Inc. recently announced it has hired Joe Lourido as the company’s new National Accounts Risk Placement specialist. Lourido will report to Geo. F. Brown & Sons, Inc. President Mark J. Strong and his …

AMS Users Gain Access to ChoicePoint; AMS Also Buys Priority Data Systems

Insurance and credit data supplier ChoicePoint said its signing of a strategic alliance agreement with insurance technology firm AMS Services will extend ChoicePoint’s capabilities for data sales to thousands of additional insurance agents and industry professionals nationwide. The agreement was …

Professional Insurance Agents of Ohio Announce 2006 Award Winners

The Professional Insurance Agents Association of Ohio, Inc. (PIA) presented awards this week to several of its members. The awards were announced at the 2006 PIA Agency Management and Profitability Conference. PIA of Ohio hosts the annual conference for insurance …

AGs File Motion Against Agents’ Amicus Opposing Zurich Settlements

The Attorneys General of 10 states have filed a motion with the U.S. District Court for the District of New Jersey opposing an amicus brief filed on Sept. 15, 2006, by the National Association of Professional Insurance Agents (PIA). The …

U.S. Denies Funding for Burlington, Vt. Lead Abatement Program

A city lead abatement program that has been recognized nationally might have to shut down because the U.S. Department of Housing and Urban Development has denied a request for a $3 million grant. “We were very surprised. All the indications …

Beazley Expands Proprietary Risk Management Platform

Connecticut-based Specialty lines insurer Beazley announced that it is expanding BeazleySource, its proprietary risk management platform, to include information and advice for fiduciaries and administrators of employee benefit plans. “Launched in April, BeazleySource provides loss prevention services for management liability …

Bharal Named ACORD RLC Program Director

ACORD promoted Puneet Bharal as program director for its Reinsurance and Large Commercial (RLC) standards program. He formerly served as the RLC Program Manager. In this new position, Bharal will manage the RLC standards program worldwide from ACORD’s office in …

S&P’s Ratings of USI Holdings Unchanged Following Borrowing

Standard & Poor’s Ratings Services said that its ratings on USI Holdings Corp. (BB-/Negative/–) were not affected by the company’s plans to raise $100 million under the accordion feature its existing credit facility. The company intends to use the proceeds …

Survey: young agents value rates, technology, products from insurers

The five most important things carriers can offer independent insurance agencies are: competitive rates; technology that helps them more easily write business and service customers; a variety of markets and products; competitive commissions and support provided by service personnel via …

The best merger mentality: Conservative and calculating

An agency owner who believes that a merger or acquisition is all about the money may leave a lot more on the table than a premium price. They may be putting the future of their agency in jeopardy. M&A is …