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New Jersey admits 55 new carriers, touts consumer protection efforts
New Jersey achieved its twofold mission of “promoting the growth and financial stability” of insurance companies and “protecting consumers” in 2010, according to state officials. Tom Considine The...
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N.Y. company ‘improves, deepens’ offering with acquisition
An insurance brokerage and risk management firm, based in New York, N.Y., finalized its acquisition of a San Francisco, Calif.-based insurance broker. Integro acquired Argo Insurance Brokers, which...
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Independent insurance agency to N.J., Pa., N.Y. launches new website
Florham Park, N.J.-based ADP Statewide Insurance has launched a new website at www.adpinsurance.com. The company, one of the largest independent insurance agencies in New Jersey, designed the site to...
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Some commercial P-C sectors ‘transitioning’ toward hardening
The insurance market for construction firms, architects and engineers appears to be hardening, according to the latest Lockton Market Update. The monthly analysis from the world’s largest privately...
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Commercial insurers, Medicare paying 5.28% more for health services
Health care services paid by commercial insurance and Medicare programs cost 5.28% for the year ending Dec. 31, 2011, according to the S&P Indices. The S&P Economic Healthcare Indices for the...
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Commercial insurance rates up 2%, shows market ‘turning slowly’
The composite commercial insurance rate index rose 2% in February, according to MarketScout, which does a monthly analysis of various lines. Richard Kerr, CEO of MarketScout, said the market is “slowly...
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BB&T completes $570 million acquisition of Crump’s life, P-C units
BB&T Corp. says is has completed its acquisition of the life and property-casualty operating divisions of Crump Group for $570 million in cash. The acquisition of the units of the Roseland,...
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Two N.D. mutual insurers fined $10,000 for violating territory laws
North Dakota Insurance Commissioner Adam Hamm fined two mutual insurance companies in the state for operating outside their approved territories. Family Mutual Insurance Co. and West McLean County...
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Ga. insurance broker must pay $6.9M back for false application scheme
A Jasper, Ga., insurance broker was sentenced to four years and two months in federal prison and ordered to pay nearly $7 million in restitution after submitting false applications for insurance...
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Positive underwriting gains seen for commercial lines in 2016: Report
Despite rate reductions and low investment returns, commercial lines insurance is on track for positive underwriting gains in 2016, according to a report from Wells Fargo Insurance. In its annual 2016...
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