Despite the downturn in the economy, the multibillion dollar global insurance brokerage business held steady, for the most part, in terms of brokerage revenues in 2008. Best’s Review’s annual Top Global Insurance Broker ranking reports Aon Corp. as the No. 1 global broker with $6.2 billion in brokerage revenues. No. 2 is Marsh Inc. with [...]
Fitch Ratings released its annual analysis of the U.S. insurance brokerage industry. Fitch’s Rating Outlook for the insurance broker industry is Stable. A Stable Outlook implies that Fitch would not expect ratings to change in the near term for the brokers in Fitch’s ratings universe.
Through the first nine months of 2008, financial results indicate [...]
Sircon Corporation today announced that Glatfelter Insurance Group is the latest customer to use its Compliance Express(TM) and Producer Manager(TM) solutions to manage producer licensing, compliance, continuing education and on-boarding processes among its insurance-broker network.
“Glatfelter Insurance Group’s selection of Sircon’s technology exemplifies our commitment to making Glatfelter the marketing organization that’s easiest for producers to [...]
Ovations, UnitedHealth Group’s health and well-being company for seniors, issued the following statement regarding broker commission rates:
“We welcome further action by CMS to regulate broker commissions. Earlier this year we voiced support before the Senate Finance Committee in favor of regulation to levelize broker commissions. We would also welcome regulation that establishes reasonable industry-wide broker [...]
Size matters, according to a new report on the insurance brokerage market by Advisen Ltd. As a result, the frenetic pace of consolidation in the brokerage sector will be only temporarily slowed by the global economic recession.
“Large brokers enjoy certain advantages of scope and scale,” said John Molka III, the author of the report. “At [...]
Arcadian Health Plan, Inc., announced today the debut of their Medicare Advantage health plans for select counties in California, Missouri, New Hampshire and Virginia, as well as continued expansion into existing markets including Maine and Texas. Its sister organizations and corresponding affiliates also continue expansion in Georgia, Louisiana, New York, Oklahoma, and North Carolina. Providing [...]
After thorough review of multiple agency management platforms, AgencyWorks receives a formal endorsement from National Brokerage Consortium (NBC) as the common platform of choice for all NBC members.
According to NBC Secretary Pete Caneer, “In world, insurance companies are looking for efficiencies from the national marketing organizations (NMOs) they deal with. If an NMO adopts a [...]
The Allstate Corporation will conduct a conference call at 9 a.m. Eastern Time (ET) , Aug. 6, 2009 to discuss second quarter 2009 earnings. The company will issue a news release announcing results the day before on Wednesday, Aug. 5, 2009 at or after 4:05 p.m. ET. In addition, the company plans to file [...]
ICW Group Insurance Companies, which partners with 3,800 agents and brokers across the United States, is now offering workers’ compensation insurance in the state of Illinois.
The super-regional carrier’s industry-leading claims services and forward-thinking risk management has helped thousands of companies create a safe and productive work environment, while lowering the costs associated with workers’ compensation [...]
Hughes Insurance, the largest independent broker for car insurance in Northern Ireland, has recorded a number of incidents where motorists have had their insurance policy renewal declined by their existing provider. The incidents indicate that certain insurance providers are ‘redlining’ specific areas in Northern Ireland – including Newry.
‘Redlining’ is the practice of denying services, such [...]
