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Archive for the Insurance Industry News1 Category

FAwebnews.com, print publications, cease publication

FAwebnews.com, print publications, cease publication

After nearly 20 years serving the Mid-Atlantic insurance industry, IFAwebnews.com and its previous three regional print journals, Insurance & Financial Advisor, have ceased publication. Launched in 1998 as Insurance Advisor Monthly to serve retail insurance agents in Maryland and Washington, D.C., the IFAmedia family grew to include […]

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Maryland seeks to save struggling Obamacare exchange

Maryland seeks to save struggling Obamacare exchange

Posted: February 23, 2018 To help steady its struggling Obamacare health insurance exchange, Maryland is considering steps some other states have taken to stabilize insurance markets: revive a sort of insurance for insurers. State lawmakers held hearings on a variety of health care proposals on Wednesday, including one […]

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Risk Strategies acquires NYC specialty brokerage

Risk Strategies acquires NYC specialty brokerage

PRESS RELEASE: The following content has been reprinted in whole or part from a company-supplied press release, issued statement, or other reports or sources. Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, announced the acquisition of Prosurance Redeker Group LTD, a […]

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Former Texas insurance agent gets life sentence for elderly scam

Former Texas insurance agent gets life sentence for elderly scam

Posted: February 19, 2018 A Swisher County jury gave a life prison sentence to a 66-year-old former Lubbock, Texas, insurance agent last week after he admitted to defrauding money from elderly clients. Joseph Allen Gaines was also ordered to pay back $810,000 to the people he swindled as […]

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GE faces shareholder lawsuit over insurance shortfall, SEC probe

GE faces shareholder lawsuit over insurance shortfall, SEC probe

Posted: February 19, 2018 General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars. The complaint filed by the Cleveland Bakers and […]

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N.Y. investigates possible insurance denials for gay men

N.Y. investigates possible insurance denials for gay men

Posted: February 16, 2018 State financial regulators in New York said Wednesday that they would investigate reports that gay men have been denied insurance policies covering life, disability or long-term care because they were taking medication to protect themselves against H.I.V. Such denials would amount to illegal discrimination […]

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D.C. hits car owners with mistaken notice of insurance lapse, fines

D.C. hits car owners with mistaken notice of insurance lapse, fines

Posted: February 14, 2018 Washington, D.C., regulators mistakenly sent letters to registered car owners stating that they owed a hefty fine for not having auto insurance coverage, when in fact, their vehicles were insured. Gwendolyn Chambers, speaking for the D.C. Department of Motor Vehicles, which sent the erroneous […]

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Md. free vasectomy law may jeopardize use of HSAs

Md. free vasectomy law may jeopardize use of HSAs

It was a well-intentioned effort to provide men with some of the same financial protection from birth control costs that women get. But a new Maryland law may jeopardize the ability of thousands of consumers — both men and women — to use health savings accounts. The […]

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CEI insures Maryland town for 100 years

CEI insures Maryland town for 100 years

Chesapeake Employers’ Insurance Co. (CEI) recognized Rising Sun, Md., for being a policyholder for 100 years, making it the insurer’s longest-running, continuous client. Rising Sun is located in Northeastern Maryland, in Cecil County. The parties marked the event at a ceremony in Rising Sun’s town hall. Tom […]

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NSM acquires transportation insurance broker

NSM acquires transportation insurance broker

Posted: February 11, 2018 Conshohocken, Pa.-based NSM Insurance Group has acquired TranSpec, the Nashville-based specialized transportation insurance broker. NSM is an industry-specific insurance program administrator. TranSpec specializes in designing and implementing insurance programs for trucking firms that utilize owner operators. The program coverages include, non-trucking liability, physical damage […]

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