Insurance News
Barney & Barney to Advise on Executive Compensation
Executive compensation is a hot topic. At times it can be a lightning rod. More often its an unseen, strategic asset. The task of setting executive compensation can make or break a business. San Diego-based Barney Barney LLC has opened a co...
FDIC:Balboa Thrift Operating In Unsafe Manne
Balboa Thrift and Loan, a $200 million asset lender based in Chula Vista, has been put on notice by the Federal Deposit Insurance Corp. that it has been operating in an unsafe and unsound manner with policies that are detrimental to the thr...
Impac Eyes Title Insurer,Mortgages
The mortgage meltdown of 2007 led to some sleepless nights for executives at Impac Mortgage Holdings Inc. I didnt sleep at that time, said Joseph Tomkinson, Impacs chairman and chief executive. And I can say the same for (President) Bill As...
State Fund Plan Draws Fears of Higher Workers' Comp Rates
Construction companies and similar businesses beware: Workers compensation insurance rates could soar if a plan to sell part of the State Compensation Insurance Fund comes to fruition. The budget compromise reached earlier this year by Gov....
Insurance Brokers See 4% Revenue Drop, First in Years
Insurance brokers have turned to consulting work as a parachute to slow a drop in their business as their clients have shrunk in the past two years. But even consulting work couldnt offset revenue declines at Orange County insurance brokera...
Insurer Pacific Life Sees AIG Hangover, Policy Sales Strong
Newport Beachs Pacific Life Insurance Co. has been on a wild ride with its investments in the past year but its mainstay life insurance business appears to be holding up. Parent company Pacific Mutual Holding Co. is the countys largest priv...
Biggest in Years,First American Spinoff Advances
Santa Ana-based First American Corp. is getting down to details in its plans to spin off its dominant title insurance business. After waiting out the worst of the housing market and economy for nearly two years, First American is hustling t...
21st Century's Turbulent Year
In what analysts are calling another blow to the local economy and to a company with a notable history in the Valley, the Woodland Hills offices of auto insurer 21st Century Insurance could lose up to 750 jobs in the next 16 months as its n...
Insurance Merger Renders New Financial Services Division
Steve Brooks Insurance Services, based in Westlake Village, and Calabasas-based Tri County Insurance have merged. However, Eric Bossuk, CEO of the newly merged company was coy about what the firm will be called, citing skittishness in the m...
Hub International Expands in Ventura County
Insurance firm Hub International Limited has acquired Ogilvy Hill Insurance, a Santa Barbara-based brokerage firm as part of Hubs expansion into the Thousand Oaks and greater southern Ventura County area. Ogilvy Hill is a good fit for Chica...
FDIC Intervenes in Western Commercial Bank
Western Commercial Bank entered into a Consent Order to Cease and Desist, effective September 18, with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions. The order requires the bank to: increa...
Canadian Firm Buys Zenith Insurance
Toronto-based holding company Fairfax Financial Holdings Limited has bought Woodland Hills-based Zenith National Insurance Corp. in a deal valued at $1.4 billion. Zenith shareholders will receive $38 per share, a figure that reflects a 31 p...
Insurance agent and honorary mayor of Woodland Hills Michael Miller died.
Insurance agent and honorary mayor of Woodland Hills Michael Miller died after suffering a heart attack. He was 62. Miller was a familiar face in the west San Fernando Valley from his involvement in not for profit and charitable groups. Mil...
Anthem Blue Cross Joins Insurance Exchange
Anthem Blue Cross and CHOICE Administrators, Inc. have partnered to sell health insurance to small-employer purchasing groups that are members of the CaliforniaChoice small group program. CaliforniaChoice is the largest health insurance exc...
EDITORIAL: Gooding gets a jump on its future with new hospital
Red-letter days don't come often in a small town, but today is one in Gooding. It's the official opening of the North Canyon Medical Center, the $17 million, 50,000-square-foot successor to Gooding County Memorial Hospital. Located near the...
Tele Atlas Maps Plan for Pitney Bowes Business Insight
Tele Atlas, a supplier of digital maps and content for navigation and location-based solutions, and Pitney Bowes Business Insight, a supplier of data quality and location intelligence solutions, announced an agreement under which Pitney Bow...
Genpact Reports Full Year 2009 Revenue Report
Genpact Limited, a provider of solutions to help manage business processes, announced financial results for the fourth quarter and full-year ended December 31. In a February 4 release, Genpact said that for the fourth quarter, revenues of $...
MBIA Restructures Asset Management Subsidiary
MBIA announced that it has restructured its fixed-income asset management subsidiary. According to a release, the firm, now known as Cutwater Asset Management, will operate under the MBIA corporate umbrella as a separate operating company f...
Deceptive Mercury Insurance Ballot Initiative Is Now Proposition 17
SANTA MONICA, Calif., Feb. 1 /PRNewswire-USNewswire/ California Secretary of State Debra Bowen has announced that the ballot initiative fully funded by Mercury Insurance to jack up Californians auto insurance premiums has been assigned Prop...
UPDATE 1-Ambac hires Blackstone for restructuring
Troubled U.S. bond insurer Ambac Financial Group Inc (ABK.N) has hired Blackstone Group (BX.N) to help it restructure, according to sources familiar with the matter. Ambac has said in public filings that it is working on a strategy to addres...
Bank of Beijing Cleared To Buy Into ING Insurance JV
Chinas regulators approved Bank of Beijing Co.s (601169.SH) plan to buy into a 50-50 China insurance joint venture with ING Groep NV (ING), the city commercial lender said Friday, clearing the way for Bank of Beijing to gain a foothold in t...
Geithner Called To Explain AIG Bailout Secrecy
WASHINGTON_A House committee is planning to grill Treasury Secretary Timothy Geithner about his role in the massive bailout of failed insurer American International Group Inc. The House Oversight Committee is responding to news that key det...
California Insurers Lose Bid to Block Payments to Advocates
A California appeals court upheld changes to state insurance regulations that clarified that insurers must pay the cost of challenges to rates deemed excessive. The appellate panel rejected a challenge from the Association of California Ins...
Insurance Marketers Reveal Their Winning Strategies in January 2010 Best's Review
Insurance marketers are using everything from a pink-haired animated character to tools that precisely measure advertising efforts to help them stand out in the industry's competitive marketplace. The stories behind these strategies are rev...
Prudential Corporation Asia to Buy Singapore's UOB Life Assurance
Prudential Corporation Asia will acquire Singapore-based UOB Life Assurance Ltd. for S$428 million (US$307 million) after it has formed regional bancassurance alliance with the insurer's parent United Overseas Bank. Under the agreement, UOB...
A Marketing Strategy For Insurance Agents To Succeed in A Crisis Economy
With a troubled economy and the high price of gas, more consumers are choosing to travel the information superhighway to research, compare prices and shop for insurance. As consumers become more internet savvy, they are no longer content wit...
US House Passes COBRA Subsidies Extension, Awaits Senate Vote
The U.S. House of Representatives, on its rush to adjourn before the holiday break, passed a patchwork of bills that included an extension of COBRA health insurance subsidies for Americans who have lost their jobs. The matter is now before t...
Today's Picks
Indiana teachers union to cover disability claims
INDIANAPOLIS_The Indiana State Teachers Association and the National Education
Aging of the population of the Workers Comp claims and
Copyright: Business Wire Source: Business Wire Wordcount: BOSTON--(BUSINESS
MaybachFinancial.com Posts Free Analyst Report on ETN,
LONDON -- (MARKET WIRE) -- 04/23/09 -- MaybachFinancial.com is one of the
Citizens Property Insurance is preparing to raise
State regulators announced today they will hold a public hearing Tuesday on
SPD Bank Inks Framework Deal with Dazhong Insurance
Dazhong Insurance Company Ltd. disclosed on February 21 that it had concluded a
Ind. teachers union to cover disability claims
INDIANAPOLIS_The Indiana State Teachers Association and the National Education
Merck sued over patent on allergy drug Singulair
NEW YORK_The battle over the patent on Merck and Co.'s allergy and asthma drug
Citizens Business Bank signs agreement with FDIC to
Bank holding company CVB Financial Corp (NASDAQ:CVBF) disclosed late Friday
Graniz Mondal Inc. Enters Into Letter of Intent With
MONTREAL, QUEBEC -- (MARKET WIRE) -- 06/22/09 -- Graniz Mondal Inc. (Graniz)
Sterling Financial Corporation of Spokane, Washington,
Sterling Financial Corporation (NASDAQ: STSA) today announced that its
Atlantic American Corp. Leads Wednesday's AMBG as
The AMBG closed Wednesday, Oct. 14, at 843.05 (+2.06%). Of the 15 A.M. Best
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