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There is only about a month left for independent agencies to enter the 2010 Commercial Insurance Agency of the Year Award program, run by National Underwriter and its sister publication, American Agent & Broker. Read on for entry details.
One Sacramento, Calif.-area grocer will pay more than a half a million dollars in penalties after dissuading employees from filing legitimate workers' compensation claims.
A New York agents' association defended its lawsuit opposing a producer compensation regulation after a New York State Insurance Department representative questioned the group's motive in opposing disclosure and asked what the association has to hide.
Massachusetts Attorney General Martha Coakley has proposed new auto regulations that, she said, offer consumer protections by increasing transparency and enhancing policyholders' ability to shop effectively for coverage.
W.R. Berkley executives said they would not hesitate to write coverage again for the operator of the oil rig that exploded in the Gulf of Mexico last month, adding that increased prices and insurance requirements for operators could provide opportunities.
The National Flood Insurance Program will lapse June 1 because of congressional inaction, meaning insurance agents will not be able to provide new or renewed insurance policies under the Federal Emergency Management Agency's Write Your Own Program.
Lloyd's estimates net claims from the Deepwater Horizon explosion in the Gulf of Mexico to range between $300 and $600 million. The company added that its net claims before tax from the earthquake in Chile are about $1.4 billion.
William Berkley, who heads a group of U.S. insurers working to close what they see as a tax loophole for foreign insurers, suggested that critics are launching empty threats to thwart his coalition's efforts.
Insurers plan to invest $84 million, on average, over the next three years to improve their multi-channel distribution strategies, according to findings of a global survey by Accenture.
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