Operations News

The Hartford settles with N.Y., Conn. over annuity compensation

The Hartford Financial Services Group, Inc. has settled with both the Connecticut and New York attorneys general regarding The Hartford’s use of expense reimbursement agreements in its terminal/maturity funding group annuity line of business. Under the terms of the settlement, …

R.C. Knox Settles with Conn. AG Over Compensation But Denies Wrongdoing

An insurance broker has paid the state $754,804 to settle allegations that it accepted undisclosed compensation from insurance carriers in exchange for placing insurance for the state, Attorney General Richard Blumenthal said. The state used the insurance brokerage firm R.C. …

Lowart Joins Oregon Mutual as Marketing Manager

Oregon Mutual Insurance Co. has announced that Karen Lowart has been named agency marketing manager in the Central and Northern Valley region in California. Lowart joins OMI with a strong insurance background, having worked in the commercial arena with Industrial …

IJ’s Top 100 Highlights Nation’s Largest Privately-Held Independent Agencies

Insurance Journal released its third annual Top 100 Property Casualty Independent Agencies list late last month and one of the nation’s largest networks of retail agencies came in as number one. Leading the pack of the nation’s largest privately-held P/C …

IIAT Conference on Track for Houston June 15-16

The Independent Insurance Agents of Texas will hold its 109th Conference & Trade Show June 15-16, 2006, at The Westin Galleria in Houston. The association noted that the 109th annual conference features an impressive lineup of innovative and practical sales …

The Hartford Settles with N.Y., Conn. Over Annuity Compensation

The Hartford Financial Services Group, Inc. has settled with both the Connecticut and New York attorneys general regarding The Hartford’s use of expense reimbursement agreements in its terminal/maturity funding group annuity line of business. Under the terms of the settlement, …

10 Texas lawmakers close in on tax reform

Although it’s not perfect, agent groups support Perry-Sharp plan 10 Louisiana after the storms Insurance issues top lawmakers’ agenda 10 In case of emergency Get out fast but make sure documents are safe N1 Former Enron exec admits guilt Says …

Hurricane winds could be felt in professional liability markets

The professional liability market may be significantly affected by the increase in frequency and severity of hurricanes, causing greater rating agency scrutiny and changes to evaluation models. “The three recent hurricanes — Katrina, Rita and Wilma — will result in …

People

Andrew J. Valdivia has been elected president of White & Co. Insurance Inc., of Santa Monica, Calif., and will be responsible for property and casualty sales, account development and account management. Valdivia was formerly White’s executive vice president. He joined …

News Currents

ACE settles bid-rigging case for $80 million Attorney General Lisa Madigan, New York Attorney General Eliot Spitzer and Connecticut Attorney General Richard Blumenthal announced an $80 million settlement agreement with Bermuda-based holding company ACE Limited, and its U.S.-based insurance subsidiaries. …