South Dakota News

Midwest Tornadoes Cause at Least $325 Million in Insurance Losses

Tornadoes that swept across Arkansas, Kansas, Missouri, Nebraska, South Dakota and Tennessee earlier this week could cost insurers at least $325 million — making it one of the top five costliest tornado events, according to the Insurance Information Institute (III). …

VFS Insurance Group’s Reach Expands Across the U.S.

VFS Insurance Group, the insurance division of the Volvo Group, has added eight states and the District of Columbia to the list of states in which it is licensed to sell insurance, bringing the total to 22 plus D.C. Over …

Fiserv Revenues Up 11 Percent; New President Named

Brookfield, Wis.-based Fiserv Inc. processing and services revenues of $624.8 million, an 11 percent increase over the $560.7 million for the first quarter of 2002. Net income per share-diluted for the first quarter of 2003 was 38 cents per share, …

InsureVianet Expands State Availability for Exec. Liab. Suite

InsureVianet announced it has expanded the number of states for its online Executive Liability Suite by 16 additional states and the District of Columbia, bringing to 38 the total number of states in which the company offers its online small …

Foremost Insurance Co. Won’t Raise Homeowners Rates on Deployed Military

The Grand Rapids, Mich.-based Foremost Insurance Group of companies is modifying underwriting guidelines for current mobile home and non-standard homeowner customers who are being militarily deployed and are leaving an unoccupied home behind. Effective immediately, Foremost mobile home and non-standard …

InsureVianet Rolls Out New Program to an Additional 16 States and District of Columbia

InsureVianet announced today it has expanded the number of states for its online Executive Liability Suite by 16 additional states and the District of Columbia, bringing to 38 the total number of states in which the company offers its online …

Community First Acquires Colorado Insurance Agency

An affiliate of Fargo, N.D.-based Community First Bankshares Inc. has acquired the Carr Agency, an insurance agency in Thornton, Colo. The acquisition marks Community First’s 13th insurance agency acquisition in Colorado. Community First CEO Mark Anderson said in a statement …

NAMIC Supporting Small Company Tax Inflation-Adjustment Legislation

Late last week, Senators Christopher Bond, R-Mo., and Tim Johnson, D-S.D., introduced S. 735, “Small Insurance Company Inflation Adjustment Act,” to amend the Internal Revenue Code of 1986 to clarify the tax exemption for small property and casualty insurance companies. …

TEXAS JOINS MW CE ZONE

TDI announced the state has entered into an agreement with the Midwest Zone States regarding continuing education (CE) reciprocity. With some exceptions, a course approved by a participating state will be accepted by other participating states merely by filing a …

RTW Reports Income Per Share of $2.78 for 2002

RTW Inc., which manages workers’ compensation programs, has reported net income for the fourth quarter ended Dec. 31, 2002, of $8.1 million, or $1.57 per basic and diluted share, compared to a net loss of $23.3 million, or $4.53 per …