Insurance agent fined $1,000 for mishandling of PAARP applications

A Woodlyn, Pa., insurance agent was put on 10 years of license supervision and ordered to pay a $1,00 fine for violating state law and rules for handling Pennsylvania Assigned Risk Plan (PAARP) applications.  Read Story

New Florida medical malpractice insurer bypasses agent system

A new medical malpractice insurance provider has opened its doors in Florida, flaunting that it will not use insurance agents or brokers.  Read Story

As reported on IFAwebnews.com, the financial services regulatory bill agreed upon by a House and Senate committee will keep the current state-based system of insurance regulation intact, at least as far as the property-casualty market is concerned.   Read Story

Conn. issues warning about unlicensed limited benefit medical plans

The Connecticut Insurance Department is warning residents about possible illegal health insurance sales by four Internet-based companies.  Read Story

Murder-for-hire plot lands Virginia man in prison

A Christiansburg, Va., man who offered an undercover officer a $20 down payment to kill another man, with a promise of more money once a life insurance policy was cashed in, was sentenced to seven years in state prison.  Read Story

Ratings service affirms ratings of New York-based life insurer

A.M. Best Co. has affirmed the ratings of First Great-West Life & Annuity Insurance Co., a White Plains, N.Y.-based company that is part of Great-West Life & Annuity Co.   Read Story

Employers: Workers fall short on retirement investing know-how

Most employers say their employees don’t know as much as they should about retirement investing, according to a new survey.  Read Story

More companies choosing terrorism insurance coverage

The number of companies buying terrorism insurance since 2003 has more than doubled, according to a new survey.  Read Story

There are a number of risks which, because of the nature of their business, are placed into a claims-made policy instead of a traditional occurrence policy. Many Professional Liability policies – including Errors & Omissions policies – are written on a claims-made basis. Some types of manufacturing risks are also written on a claims-made policy, so an underwriter has a better feel for a risk from year to year. Retro dates are an important consideration when a claims-made policy is written.  Read Story

Three from mid-Atlantic get Travelers top agent honor

Travelers Insurance recently distributed its 2010 Personal Insurance Agent of the Year Awards, recognizing three independent agents from the mid-Atlantic.  Read Story