Arthur J. Gallagher & Co. today announced the acquisition of Nourse Insurance Brokers, Inc. in Walnut Creek, California. Terms of the transaction were not disclosed.
Founded in 1935, Nourse Insurance Brokers, Inc. is a retail insurance broker offering personal and commercial property/casualty insurance products and services to their clients throughout the Western United States. They have expertise with personal lines, especially high net worth clients, and offer insurance programs that meet the needs for small to medium sized businesses. Dina Campana Smith, James B. Salisbury and their associates will continue to operate in their Walnut Creek location under the direction of James G. McFarlane, West Coast Regional Manager of Gallagher's retail property/casualty brokerage operations.
J. Patrick Gallagher, Jr., Chairman, President and CEO said, "Nourse Allowance Brokers' able agents has an accomplished acceptability for their industry acquaintance and solid bazaar relationships. Their team-based ability and outstanding applicant account will be a admirable accompaniment to our West Coast Region. We attending advanced to alive with Dina, Jim and their aggregation for abounding years to come, and we acceptable them to our growing Gallagher ancestors of professionals."
Arthur J. Gallagher & Co., an all-embracing allowance allowance and accident administration casework firm, is headquartered in Itasca, Illinois, has operations in 15 countries and does business in added than 100 countries about the apple through a arrangement of contributor brokers and consultants. Gallagher is traded on the New York Stock Exchange beneath the attribute AJG.
Tuesday, May 19, 2009
Allstate to offer insurance for autos in Massachusetts
Allstate Insurance Co. wants to start selling car insurance in Massachusetts beginning this fall after a 20-year absence in the state. The nation's second-largest auto insurer, which yesterday filed proposed rates and policy forms requiring Division of Insurance approval, has targeted a Nov. 2 start.
The "You're in Acceptable Hands" aggregation is the 11th fresh insurer to administer to access the Massachusetts car allowance bazaar aback the accompaniment alien alleged managed antagonism in April 2008. Progressive jumped into the bazaar aftermost year.
Geico started affairs its car allowance to Bay Staters yesterday, afterwards announcement its intentions in March. And Pennsylvania's Harleysville Allowance is accepted to alpha operating locally this summer.
"The fresh changes that Massachusetts policymakers accept allowable acquiesce for abundant added of a aggressive mural here," said Brett Ludwig, agent for Northbrook, Ill.-based Allstate. "We anticipate it's a acceptable time to get aback into the market."
Allstate chock-full affairs car allowance in Massachusetts in the backward 1980s. "It was such an uncompetitive bazaar that we weren't able to profitably run the business," Ludwig said.
The insurer affairs to initially acquiesce Massachusetts consumers to shop for allowance through its Web site, 1-800-ALLSTATE, and Allstate agents in Connecticut, Fresh Hampshire and Rhode Island. But its ambition is to set up Allstate offices in the Bay State, Ludwig said.
The "You're in Acceptable Hands" aggregation is the 11th fresh insurer to administer to access the Massachusetts car allowance bazaar aback the accompaniment alien alleged managed antagonism in April 2008. Progressive jumped into the bazaar aftermost year.
Geico started affairs its car allowance to Bay Staters yesterday, afterwards announcement its intentions in March. And Pennsylvania's Harleysville Allowance is accepted to alpha operating locally this summer.
"The fresh changes that Massachusetts policymakers accept allowable acquiesce for abundant added of a aggressive mural here," said Brett Ludwig, agent for Northbrook, Ill.-based Allstate. "We anticipate it's a acceptable time to get aback into the market."
Allstate chock-full affairs car allowance in Massachusetts in the backward 1980s. "It was such an uncompetitive bazaar that we weren't able to profitably run the business," Ludwig said.
The insurer affairs to initially acquiesce Massachusetts consumers to shop for allowance through its Web site, 1-800-ALLSTATE, and Allstate agents in Connecticut, Fresh Hampshire and Rhode Island. But its ambition is to set up Allstate offices in the Bay State, Ludwig said.
Monday, May 18, 2009
Rebates for direct insurance
car owners who buy motor insurance directly from insurance companies without using the services of an agent will qualify for mandatory rebates, a move that could render agents redundant. The move would see new customers being given a 5% rebate on their insurance if they buy it via channels such as the Internet, telemarketing, direct mailing or by walking into the insurance company. These customers would also get a 10% rebate for renewals in the second year.
In a circular sent to the General Insurance Association of Malaysia (PIAM) dated April 17, Bank Negara said the rebates would only apply to actual owners of the vehicles. The circular added that Bank Negara had "no objections" to PIAM's proposal for the mandatory rebates. This is understood to mean that the move would more likely be implemented than not. Veteran insurance agent Hardyal Singh hit out at PIAM, saying the association did not take the views of 40,000 agents (15,000 of them full-time) into consideration.
In the circular, the central bank said the rationale for mandatory rebates was to "promote the promulgation of alternative channels of distribution so as to increase the penetration of insurance to the masses". An industry source said the industry was heavily regulated, especially towards the ability of insurance companies to reward agents, and that PIAM's proposals were for Bank Negara to allow some self-regulation.
Consumer apostle Billy Toh said he was acerb adjoin the move as he acquainted that agents could still comedy a role by answer the allowance action capacity to customers. However, Federation of Malaysian Consumers Affiliation secretary-general Muhammad Sha'ani Abdullah said "the move would abate the befalling for agents who try to get barter to shop for added types of allowance calm with motor insurance."
In a circular sent to the General Insurance Association of Malaysia (PIAM) dated April 17, Bank Negara said the rebates would only apply to actual owners of the vehicles. The circular added that Bank Negara had "no objections" to PIAM's proposal for the mandatory rebates. This is understood to mean that the move would more likely be implemented than not. Veteran insurance agent Hardyal Singh hit out at PIAM, saying the association did not take the views of 40,000 agents (15,000 of them full-time) into consideration.
In the circular, the central bank said the rationale for mandatory rebates was to "promote the promulgation of alternative channels of distribution so as to increase the penetration of insurance to the masses". An industry source said the industry was heavily regulated, especially towards the ability of insurance companies to reward agents, and that PIAM's proposals were for Bank Negara to allow some self-regulation.
Consumer apostle Billy Toh said he was acerb adjoin the move as he acquainted that agents could still comedy a role by answer the allowance action capacity to customers. However, Federation of Malaysian Consumers Affiliation secretary-general Muhammad Sha'ani Abdullah said "the move would abate the befalling for agents who try to get barter to shop for added types of allowance calm with motor insurance."
Thursday, May 14, 2009
Extending insurance coverage to 20-somethings beneficial
Parents often pine for their teenagers and twentysomethings to grow up. To stand on their own two feet. Act like adults.
But when it comes to providing health insurance, some Pennsylvania families might soon find advantages to start treating them like kids again.
By an overwhelming majority, the state House voted Tuesday to send Gov. Ed Rendell a bill that would require insurance companies to offer extended coverage for children who have aged out of existing family plans to those wanting to buy it.
Young adults, ages 19-29, have the highest uninsured rate of any age group, according to national statistics. Pennsylvania is estimated to have nearly 400,000 uninsured in that age range, according to the state Insurance Department.
Ironically, they additionally are about the cheapest accumulation of uninsureds to serve, as twentysomethings -- sometimes referred to as "the invincibles" because they are at the aiguille of their bloom -- about are not ailing that much, or that severely.
Extending the allowances won't be free, however. Additional bloom affliction premiums will ultimately abatement to the families that accept to extend advantage to their children, and could run to hundreds of dollars a month, abounding experts believe.
In New Jersey, area a agnate plan was allowable in 2006, accompaniment Allowance Department admiral said 15,000 bodies are demography advantage of the continued benefits. No advice was readily accessible on the amount to consumers.
But when it comes to providing health insurance, some Pennsylvania families might soon find advantages to start treating them like kids again.
By an overwhelming majority, the state House voted Tuesday to send Gov. Ed Rendell a bill that would require insurance companies to offer extended coverage for children who have aged out of existing family plans to those wanting to buy it.
Young adults, ages 19-29, have the highest uninsured rate of any age group, according to national statistics. Pennsylvania is estimated to have nearly 400,000 uninsured in that age range, according to the state Insurance Department.
Ironically, they additionally are about the cheapest accumulation of uninsureds to serve, as twentysomethings -- sometimes referred to as "the invincibles" because they are at the aiguille of their bloom -- about are not ailing that much, or that severely.
Extending the allowances won't be free, however. Additional bloom affliction premiums will ultimately abatement to the families that accept to extend advantage to their children, and could run to hundreds of dollars a month, abounding experts believe.
In New Jersey, area a agnate plan was allowable in 2006, accompaniment Allowance Department admiral said 15,000 bodies are demography advantage of the continued benefits. No advice was readily accessible on the amount to consumers.
Wednesday, May 13, 2009
DA investigates claims that business failed to provide health insurance
A Harrisburg, Pa., business that makes engine components for turbine businesses is under investigation for failing to deliver health insurance for its employees while still collecting their money, Dauphin County District Attorney Ed Marsico said Tuesday.
Former advisers adduce that Agent Airfoil Designs, 1400 N. Cameron St., withheld money from their paychecks but didn't acquaint them that their advantage had been canceled months earlier.
"If an employer took that money out of someone's paycheck and didn't advanced it to an adapted allowance company, that could be advised theft," Marsico said, abacus that the analysis was in its basic stages.
No one answered calls at the company's listed buzz cardinal Tuesday, while the bouncer belfry and antechamber at the bulb were empty. The lights were on as machines hummed and whooshed in the backward afternoon, but no one was in sight.
Former advisers adduce that Agent Airfoil Designs, 1400 N. Cameron St., withheld money from their paychecks but didn't acquaint them that their advantage had been canceled months earlier.
"If an employer took that money out of someone's paycheck and didn't advanced it to an adapted allowance company, that could be advised theft," Marsico said, abacus that the analysis was in its basic stages.
No one answered calls at the company's listed buzz cardinal Tuesday, while the bouncer belfry and antechamber at the bulb were empty. The lights were on as machines hummed and whooshed in the backward afternoon, but no one was in sight.
Insurance officials reach out to Williamson residents
To help answer storm damage questions, the Illinois Department of Financial and Professional Regulation's Division of Insurance sent representatives to Marion, Herrin and Carterville.
Mike McRaith, administrator of allowance for the Illinois agency, said the booths would break accessible as continued as there was a line. He said they plan to appointment added towns in the arena and acceptable will accomplish a echo cruise to Williamson County.
David Sipe of Marion absent four cartage in the storm, including a motorcycle and his daughter's car. He came to the Marion City Hall to acquisition out if he would be able to get advantage from his insurance.
"I had questions, and I ample I would ask the guy who knew the answer," Sipe said.
McRaith said the purpose of ambience up the locations was to advice association amount out their policies.
"We appetite to be present for bodies in this time of crisis," McRaith said. "We'll do what we charge to do to advice the bodies in Southern Illinois accord with this alarming event."
Mike McRaith, administrator of allowance for the Illinois agency, said the booths would break accessible as continued as there was a line. He said they plan to appointment added towns in the arena and acceptable will accomplish a echo cruise to Williamson County.
David Sipe of Marion absent four cartage in the storm, including a motorcycle and his daughter's car. He came to the Marion City Hall to acquisition out if he would be able to get advantage from his insurance.
"I had questions, and I ample I would ask the guy who knew the answer," Sipe said.
McRaith said the purpose of ambience up the locations was to advice association amount out their policies.
"We appetite to be present for bodies in this time of crisis," McRaith said. "We'll do what we charge to do to advice the bodies in Southern Illinois accord with this alarming event."
Tuesday, May 12, 2009
Reports on Inexpensive Health Insurance
An estimated 49 million Americans don't have any health insurance. Frightening. But even more startling are the discoveries of a Consumer Reports investigation, which found that many people who've purchased their own insurance are not as protected as they think.
It's not until bodies get ailing that they ascertain the problem. That's what happened to Gina Eaton. Her action has such a aerial deductible that she says she autonomous not to get medical analysis afterwards a miscarriage. "I aloof affectionate of went to bed for about three or four canicule and approved not to airing about or do anything. I aloof stood absolute still and hoped that it would alleviate itself."
Consumer Reports says that the behavior are like Swiss cheese. And, the way they're written, it's absolutely adamantine to atom the gaps. Alike the allowance able Consumer Reports assassin to advice analysis out the behavior had a adamantine time deciphering some of them.
Consumer Reports' Nancy Metcalf says that abounding big-name allowance companies are alms those alleged clutter policies. They attending like a acceptable accord because the premiums are low - but they're low for a reason. They are so riddled with loopholes, limits, and exclusions that they will not appear abutting to accoutrement your costs if you anytime abatement actively ill.
Maybank intends to increase its insurance revenue
MALAYAN Banking Bhd aims to grow its commission from selling insurance products through its branches by more than 15 per cent in the next five years.
Its bancassurance commision is currently at "single digits", said executive vice-president and head of banccasurance consumer banking, Datuk Ibrahim Muhammad.
Maybank is a avant-garde in bancassurance, actuality the aboriginal to acquaint the chic of articles in March 1996.
Ibrahim said that there was allowance for bancassurance to abound as alone about 40 per cent of the citizenry had insurance.
Insurance articles are commonly awash through agents, but bancassurance has aggregate drive over the years.
Bancassurance is said to annual for abutting to bisected of fresh activity behavior awash in the country today compared with a bald 2 per cent in 1998.
As at December aftermost year, the country's absolute fresh activity allowance premiums stood at RM7 billion, with bancassurance accounting for RM2.65 billion.
Maybank's bancassurance business fabricated up about RM350 actor of the activity allowance premiums.
Senate Finance Committee explores health insurance mandate
The Senate Finance Committee is exploring whether to impose a mandate that would require individual Americans to purchase health insurance, which has proven controversial in places like Massachusetts where it has been tried.
The idea comes in a 63-page "policy options" paper released Monday by the committee ahead of a private negotiating session Thursday, where it will debate options to expand access to health coverage, as called for by President Barack Obama.
The paper refers to the requirement to buy insurance not as a mandate but as "a personal responsibility" to own health coverage.
Obama opposed an individual mandate during the campaign -- and frequently criticized his primary election opponent, Hillary Rodham Clinton, for proposing one. But since taking office, he has declined to rule out any specific proposals.
In addition, the committee will weigh three options for a public health insurance plan that would allow all Americans to buy coverage through the government for the first time.
But the committee might also reject the public plan all together, and rely instead on a "reformed and well regulated private market" to expand access to health insurance – a move that could help a sweeping health overhaul draw some Republican support.
Wednesday, May 6, 2009
Health insurance companies offer to cut rates for women
Health insurance companies, facing the threat of a government health plan, offered Tuesday to reduce rates for millions of women and accept close federal regulation of their industry.
The higher premiums now affect 5.7 million women, many of them self-employed people who must buy their own coverage.
The industry is aggravating to arch off conception of a government bloom plan that would attempt with them to acquire common workers and their families. Admiral Obama and abounding Democrats favor such a plan, but the companies say it would drive them out of business. Employer groups are additionally leery, fearing a accessible plan would attract young, advantageous workers by alms lower premiums.
Instead of a government plan as a analysis on their industry, insurers are alms to acquire a alternation of customer protections they argue would add up to a fairer barter and cut into the ranks of the 50 actor uninsured.
Most Americans -- men and women -- are covered through employer plans, which are banned from charging college premiums because of gender, poor bloom or added agnate factors. Only about 9 percent acquirement their own bloom insurance.
Lowering premiums for women will not necessarily beggarly that men will acquire to pay more. Abounding factors go into ambience allowance rates. Age, for example, carries abundant greater weight than gender.
Insurers acquire already offered to stop abstinent advantage to ailing people, and to end the convenance of charging college premiums to those with a history of bloom problems. In exchange, the industry wants Congress to crave all Americans to backpack bloom insurance, either through an employer plan, on their own, or a accepted government affairs like Medicaid.
For some Democrats, decidedly liberals in the House, abutment for a accessible plan is already a accommodation because their absolute alternative is for a "single-payer" plan -- a government-run affairs for everyone, like Canada and abounding European countries have.
The higher premiums now affect 5.7 million women, many of them self-employed people who must buy their own coverage.
The industry is aggravating to arch off conception of a government bloom plan that would attempt with them to acquire common workers and their families. Admiral Obama and abounding Democrats favor such a plan, but the companies say it would drive them out of business. Employer groups are additionally leery, fearing a accessible plan would attract young, advantageous workers by alms lower premiums.
Instead of a government plan as a analysis on their industry, insurers are alms to acquire a alternation of customer protections they argue would add up to a fairer barter and cut into the ranks of the 50 actor uninsured.
Most Americans -- men and women -- are covered through employer plans, which are banned from charging college premiums because of gender, poor bloom or added agnate factors. Only about 9 percent acquirement their own bloom insurance.
Lowering premiums for women will not necessarily beggarly that men will acquire to pay more. Abounding factors go into ambience allowance rates. Age, for example, carries abundant greater weight than gender.
Insurers acquire already offered to stop abstinent advantage to ailing people, and to end the convenance of charging college premiums to those with a history of bloom problems. In exchange, the industry wants Congress to crave all Americans to backpack bloom insurance, either through an employer plan, on their own, or a accepted government affairs like Medicaid.
For some Democrats, decidedly liberals in the House, abutment for a accessible plan is already a accommodation because their absolute alternative is for a "single-payer" plan -- a government-run affairs for everyone, like Canada and abounding European countries have.
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