TD Banknorth Inc., headquartered in Portland, Maine, is acquiring Interchange Financial Services Corporation for $480.6 million in an all cash transaction. Headquartered in Saddle Brook, New Jersey, Interchange had $1.6 billion in assets and $1.3 billion in deposits at December …
Independent agents and brokers grew their share of the property/casualty market by $11.93 billion in 2004, accounting for almost 60 percent of the national increase, according to the Independent Insurance Agents and Brokers of America’s 2004 market share study. The …
Great Central Insurance, a member of the Select Markets segment of San Antonio, Texas-based Argonaut Group Inc., reported it has introduced its Great Protector Select Series of coverage forms in 15 additional states. The Great Protector Select Series now is …
CIGNA HealthCare announced it is expanding the availability of its consumer-driven CIGNA Choice Fund Health Reimbursement Arrangement (HRA) plans to businesses with 51-200 employees in Texas. The plan is also available in Arizona, Colorado, Connecticut, Maine, New Hampshire, Vermont, New …
Concerned that the current system to regulate safety at construction sites puts too much responsibility on the federal government, Massachusetts lawmakers are considering developing a plan that would transfer more power to the state. The idea to take over workplace …
Oklahoma Insurance Commissioner Kim Holland reported that the state senate passed the Interstate Insurance Product Regulation Compact, a measure Holland said was a priority for her, by a vote of 42-0. The measure passed the Oklahoma House unanimously in February. …
Court rulings have left state inspectors powerless to enforce safety standards at construction sites like the one where three people died this week in a scaffolding accident, forcing Massachusetts to rely on a voluntary safety consultation program, state officials said. …
Agent and brokers accustomed to sending tough workers’ compensation risks to the residual market may want to consider another solution. The National Council on Compensation Insurance, which prepares workers’ compensation rates and manages residual market plans in many states, has …
Lockton Companies, Inc., the Kansas City, Mo.-based privately owned insurance broker, has opened a New York retail office, vowing to target complex middle-market clients and take a focused approach towards the Fortune 1000 and selected industries. Since the first of …
New Markets Commercial risks catastrophe cover Nuts & Bolts: International Catastrophe Insurance Managers and National Fire and Marine Insurance Company have launched a new catastrophic coverage product for commercial special risks. The product features earthquake policies for businesses with unique …
