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Wells Fargo Insurance Services Inc, a subsidiary of Wells Fargo & Co, announced that it has completed the acquisition of four more insurance agencies: Technology Insurance Services Inc., Redwood City, Calif; Rogers & Belding Insurance Agency Inc., El Paso, Texas; Richardson Group, Dover, N.H.; and Brehm Group, Inc. of Minneapolis, the employee benefits business only.… Continue reading Wells Fargo Buys Four Insurance Agencies

Arthur J. Gallagher & Co. today announced the acquisition of Koster Insurance Agency, Inc. of Quincy, Massachusetts. Terms of the transaction were not disclosed.    Founded in 1994, Koster Insurance Agency, Inc. is an insurance and risk management agency that develops and administers student health, sports accident and special risk insurance programs for colleges, universities… Continue reading Arthur J. Gallagher Acquires MA Agency

Insurance Commissioner Nonnie Burnes has given the go ahead to eight insurers in Massachusetts that recently filed new automobile insurance rates under the state’s new managed competition system. State Farm, Fireman’s Fund, Quincy Mutual, Praetorian, Safety, OneBeacon, Amica and Farm Family can offer the rates, discounts and coverage options they filed for at late November… Continue reading Eight Carriers in MA Get Green Light on New Auto Rates

The airline insurance market looks set to make its first loss since 2000, according to preliminary data collected by the Aviation & Aerospace division of Aon Corporation. With more than 85% of the year’s activity now completed, forecasts suggest that the total hull and liability premium in the market will be approximately $1.46 billion for… Continue reading Airline Insurance Market Expects First Loss Since 2000

Now that the House has passed the Senate’s version of the federal government’s terrorism risk insurance program, it’s in the White House’s hands.     White House spokeswoman Dana Perino in a briefing with reporters in answer to a question about whether President George W. Bush would sign the bill to renew the Terrorism Risk… Continue reading Fed Terrorism Extension Bill Under White House Review

Bond insurer ACA Capital Holdings Inc. has been delisted by the New York Stock Exchange, having spent more than a month trading below the $2 threshold after posting a $1 billion third-quarter net loss. NYSE Regulation Inc. suspended trading in the company’s shares, registered under the ticker symbol “ACA,” the morning of Dec. 18. In… Continue reading Bond insurer ACA Capital Holdings Inc. delisted by New York Stock Exchange

Massachusetts Attorney General Martha Coakley has requested rate filing hearings for two additional automobile insurance companies: Arbella Insurance Group and the Hanover Group. These carriers are the latest companies to be singled out by Coakley, who earlier in December requested hearings from Commerce, Safety and Premier Insurance companies following the rate filing deadlines under the… Continue reading MA Attorney General Coakley Adds Arbella, Hanover to List of Hearing Requests

Today’s House passage of a long-term extension of the Terrorism Risk Insurance Act (TRIA) is a tremendous victory for our nation’s economic security, commercial insurance consumers, and the entire business sector, according to the Property Casualty Insurers Association of America (PCI).    The bill, which now heads to President Bush’s desk for his expected signature… Continue reading PCI Hails Passage of Long-Term TRIA Extension

Following is a statement by Ramani Ayer, Chairman and Chief Executive Officer of the Hartford, on the House Passage of the Terrorism Insurance Act: “The Hartford Financial Services Group Inc. congratulates the Congress for passing the vital Terrorism Risk Insurance Extension Act before the end of the year deadline for the expiration of the current… Continue reading The Hartford’s Chairman/CEO Applauds Congress on Passage of TRIA Extension

According to data compiled by RealtyTrac Inc., U.S. home foreclosures rose 68 percent in November from a year earlier as adjustable-rate mortgages left subprime borrowers unable to meet higher payments.      RealtyTrac reported that there were 201,950 foreclosure filings in November, including default notices, auction letters and bank repossessions, down 10 percent from October’s total.… Continue reading US Foreclosures in November Rose 68% from Prior Year