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Northwest Insurance to acquire Pa.’s Winans agency

Northwest Insurance to acquire Pa.’s Winans agency

Northwest Insurance Services, based in Warren, Pa., announced that it will acquire Winans Insurance & Employee Benefits, also of the Northwestern Pennsylvania city, effective Nov. 1. Terms of the transaction, the result of a recently signed definitive agreement, were not announced. Northwest Insurance is a subsidiary of […]

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Independent agencies report optimism rebounding

Independent agencies report optimism rebounding

The future for independent property and casualty insurance agencies looks bright, according to a survey of agency principals and producers conducted by Hanover Research and insurance technology firm Vertafore. The third-annual survey, “How Independent P&C Insurance Agencies Thrive in 2016’s Competitive Marketplace,” reveals nearly half (49%) of […]

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New York personnel and company announcements: Oct. 19, 2016

New York personnel and company announcements: Oct. 19, 2016

  XL Catlin has formed the Global Mergers and Acquisitions Insurance Division and appointed Brian Benjamin as Global Head to lead the effort, based in New York. His initial focus will be on hiring underwriting teams in New York and around the globe. Benjamin was most recently […]

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Increasing premiums spur talk of Obamacare changes from both parties

Increasing premiums spur talk of Obamacare changes from both parties

Posted: October 21, 2016 Insurer defections and rising premiums in the individual insurance market are spurring Democrats and Republicans alike to talk about changes to the 2010 Affordable Care Act, President Barack Obama‘s signature health insurance legislation. For now, the conversations are largely aimed at their party’s base. […]

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Venbrook buys N.J.’s Brooks Insurance Group

Venbrook buys N.J.’s Brooks Insurance Group

Posted: October 21, 2016 Brooks Insurance Group, a Manalapan, N.J.-based excess and surplus insurance lines wholesaler, has been acquired by Venbrook Group, a brokerage based in California. Venbrook used part of the proceeds from a $42 million debt capital raising for the deal. Terms of the Brooks Insurance […]

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Seniors could face lifelong penalties for not understanding Obamacare

Seniors could face lifelong penalties for not understanding Obamacare

Ever since the Affordable Care Act’s health insurance marketplaces opened for business in 2014, the Obama administration has worked hard to make sure Americans sign up. Yet officials now are telling some older people they might have too much insurance and they should cancel their marketplace policies. […]

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Democrat governor: Obamacare ‘no longer affordable’

Democrat governor: Obamacare ‘no longer affordable’

Posted: October 14, 2016 Minnesota’s Democratic governor said Wednesday that the Affordable Care Act is “no longer affordable” for many, a stinging critique from a state leader who strongly embraced the law and proudly proclaimed health reform was working in Minnesota just a few years ago. Gov. Mark […]

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N.J. insurance agent charged with submitting fake life insurance policies for Liberian applicants

N.J. insurance agent charged with submitting fake life insurance policies for Liberian applicants

A Mercer County, N.J.,insurance agent was charged in late August with submitting fraudulent life insurance applications and death benefit claims for applicants he knew did not meet U.S. residency requirements and other policy conditions. The charges were announced by Attorney General Christopher S. Porrino and the Office […]

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Broker-dealer gets prison for $5.6 million insider trading scam

Broker-dealer gets prison for $5.6 million insider trading scam

A New Jersey broker-dealer was sentenced to three years in prison for his part in a 5-year insider trading scheme that relied on information stolen from a New York law firm and yielded net profits of more than $5.6 million, U.S. Attorney Paul J. Fishman announced. Vladimir […]

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N.Y. man to be sentenced for $1.6 million fake annuity scheme

N.Y. man to be sentenced for $1.6 million fake annuity scheme

A central New York man who was convicted of $1.6 million in sales of a bogus financial product allegedly backed by a major insurance carrier, will be sentenced on Nov. 15 for his crimes. Following a 7-day trial this summer, a jury returned a verdict against James […]

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