Archive for July, 2008

N.Y. Showing of Prejudice Before Insurers Disclaim for Late Notice

The New York Legislature passed a bill that will impact the state's insurance laws by requiring a showing of prejudice before insurers can disclaim coverage for late notice. Gov. David Paterson signed

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Kentucky Insurance Legislation Affects Compensation and Investments

Kentucky lawmakers adopted insurance legislation during the 2008 regular legislative session that will affect agents and carriers working in the state. The Insurance Producer Modernization bill (HB

The Hartford Unveils National Coastal Home Insurance Plan

The Hartford Financial Services Group Inc. has proposed a far-reaching new plan - one that includes mandatory flood insurance, IRA-like catastrophe accounts, subsidized premiums for homeowners and a f

Brown & Brown Buys Ohio-based Great Lakes Risk Management

Brown & Brown Inc. announced the asset acquisition of Great Lakes Risk Management Inc., of Toledo, Ohio, by a subsidiary of Brown & Brown. Great Lakes Risk Management, with annual revenues of appr

Wells Fargo Adds Holden as SVP, Sales Executive

Wells Fargo Insurance Services Inc. hired Hale "Chip" Holden III as senior vice president and sales executive, based in San Francisco. A long time member of the Bay Area risk management and insurance

New York Woman Pleads Guilty in $38K Insurance Fraud Scheme

An Albany, New York woman who removed all her belongings from her home the day before it mysteriously caught fire has pleaded guilty to insurance fraud. Kim M. Laporte, 39, later filed a $38,000 c

Best Affirms HCC’s ‘A+ Ratings; Outlook Returned to ‘Stable’

A.M. Best Co. has affirmed the financial strength ratings (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of HCC Insurance Holdings (HCC) and its members. Best also affirmed the ICR

LIU Creates D&O Coverage to Protect Against Global Warming Litigation

Liberty International Underwriters, a part of Liberty Mutual Group, has created Private Advantage Company Combo policy to provide broad private company management coverage for directors and officers,

Narragansett Bay Insurance Adds Provolo as Assistant Controller

Narragansett Bay Insurance Co. in Pawtucket, R.I. has added Debra Hemingway Provolo as assistant controller. Provolo worked previously as an assistant controller at Citizens Communications Co. She