Insurance
Liberty Mutual Launches Education Series For Producers
Boston-based Liberty Mutual has created the Foundation for Success program, which will publish guides and other tools on some of the key issues facing benefits buyers.
Liberty Mutual Fined $8K For Hazardous Waste Violations
Boston-based Liberty Mutual Insurance Co., which operates an industrial hygiene research facility in Hopkinton, has been assessed an $8,000 penalty by the Massachusetts Department of Environmental Protection (MassDEP) for violating state hazardous waste management and industrial wastewater regulations.
Arbella Insurance Raises $71K For Hunger Relief Program
Qunicy-based Arbella Insurance Group Charitable Foundation recently completed the third year of its “Let’s Drive Out Hunger” program, raising $71,233 for 93 different food pantries in Massachusetts.
Bank-Sold Annuities Hit Decade Low
In 2010, total annuity sales through banks hit lows not seen since the turn of the 21st century, according to a recent report from Kehrer-LIMRA.
Verille Named VP At TD Insurance In Boston
Mark P. Verille has joined TD Insurance Inc., a subsidiary of TD Bank, as a vice president – regional market producer in Boston.
Municipal Fire Depts. Creating Heat With Insurers
Quincy’s fire department had high hopes for a new moneymaking program last year: To ease budget woes, the department could pay for auto accident responses by sending the bill to private insurance companies.
Bank Life Insurance Sales Hit Record High In 2010
Banks sold a record $1.8 billion in life insurance premium in 2010, a 40 percent increase from the previous record of $1.3 billion set in 2004, according to a recent report from Kehrer-LIMRA .
Study: Life Insurance Ownership Gender Gap Closing
The number of women who own life insurance is now nearly equal to that of men, according to a recent study from LIMRA.
Liberty Mutual Joins Accounting Trade Organization
Liberty Mutual Group has become the newest member of the Group of North American Insurance Enterprises (GNAIE), which dubs itself as the only trade association that focuses exclusively on accounting and solvency issues.
Survey: Bank Brokerages Very Optimistic About 2011
Bank brokerage executives are forecasting a “brilliant 2011,” according to a recent survey from Kehrer-LIMRA.
MassMutual Donates $100K To Support Japan Earthquake Victims
Springfield-based Massachusetts Mutual Life Insurance Co. (MassMutual) is donating $100,000 to support victims of the earthquake and tsunami in Japan, and will also match eligible employee and financial professional donations during the next six months.
Insurance M&A Reverses 5-Year Slump
Insurance mergers and acquisitions increased by 35 percent in 2010, according to a new report from Hartford, Conn.-based Conning Research & Consulting.
Brockway Joins Eastern Insurance As SVP
Peter K. Brockway, of Sherborn, has been appointed senior vice president at Natick’s Eastern Insurance Group LLC.
XL Insurance Adds New Execs In Expansion
Three top executives from Boston’s Lexington Insurance Co. have joined Bermuda-based XL Insurance, the global insurance operations of XL Group plc, in the company’s expansion of its North America Programs team.
Republicans To Re-Launch National Flood Insurance Overhaul
Draft legislation to overhaul the nation’s National Flood Insurance Program will be unveiled next week, said the Republican chairman of a congressional insurance oversight panel.
The Hanover Insurance Group Increases Quarterly Dividend By 10 Percent
The board of directors of Worcester-based The Hanover Insurance Group Inc. has declared a quarterly dividend of 27.5-cents per share on the issued and outstanding common stock of the company, payable March 29 to shareholders of record at the close of business on March 15.
MassMutual 2010 Financial Results Boosted By Earnings, Record Sales
Springfield’s Massachusetts Mutual Life Insurance Co. (MassMutual) reported solid financial results for 2010, including strong increases in earnings and surplus, as well as assets under management for the company and its subsidiaries.
Hospitality Mutual Insurance Co. Acquires Eastern Casualty Insurance Co.
Westborough-based Hospitality Mutual Insurance Co. (HMIC) has acquired Marlborough-based shell company Eastern Casualty Insurance Co. (ECIC), which will allow HMIC to expand its business into other states.
Morrill Group Insurance Agency Acquires Needham Firm
Morrill Group, an independent insurance agency based in Norwood, has acquired Goldman Ernest & Liner Insurance Agency of Needham.
Cold Winter Leads To Hot Insurance Climate
On many of this winter’s mornings, the voicemail at Partners Insurance Group’s five South Shore locations are full of new problems – a fender-bender here, some roof damage there. Ice damming has been a particular problem, and in one case a Partners customer had a roof cave-in.