Texas-based HCC Insurance has merged two of its wholly-owned subsidiaries, Pioneer General Insurance Company (PGIC) and American Contractors Indemnity Company (ACIC) as part of HCC’s ongoing effort to rationalize its legal entity structure.
As per the terms of the merger agreement, effective from 31 December 2011, all of Pioneer General’s business has been transitioned to American Contractors.As of 31 December 2010, HCC had total assets of $9.6bn and shareholders’ equity of $3.3bn.HCC Insurance, founded in 1974, is a general featured item insurance group with branches across the US, the UK, Spain and Ireland.HCC underwrites more than 100 classes of Specialty Insurance within five segments including US property & casualty, professional liability, accident & health, US surety & credit, and international.
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Allstate New Jersey Insurance Company had received a judgment in its favor from the Superior Court in that state, dismissing all of the claims made against the insurer in a lawsuit that had been filed against it.
In 2011, the suit was filed by three exclusive agents who sought to prevent the agreements with their agencies from being terminated for being unable to meet certain quotas. Their claim was that their relationship with Allstate New Jersey was of a franchise nature and that they therefore had the protection of the New Jersey Franchise Practices Act.
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The last time motorists filled up their car, they may remember a black rubber contraption that surrounded the nozzle of the gas pump that resembled the folds of an accordion.As USA Today describes them, these are called gasoline vapor recovery systems, and as the name implies, the eco-friendly devices help prevent motorists from breathing in noxious fumes while theyre filling their gas tank.
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Are you thinking about trying the services of a virtual home staging company or agent? What is a virtual home staging anyway? Staging a home once meant adding props and accessories to a home for sale. The aim is to create an appeal of warmth and comfort. This makes it easier to sell a house. Nowadays, home staging can be done virtually. The aim is still the same, you rearrange furniture within the house, but the accessories and furniture involved are digital rather than real.
Virtual home staging is a new addition to the sales techniques used to market a home. This method focuses on taking photos of a home as it is and then dressing it up.
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Zurich Financial Services Group has named Jeff Dailey as a member of the group executive committee effective 1 January 2012.
Dailey is currently president and COO of Farmers Group and will become its CEO also effective 1 January 2012.
He will report to Zurich’s CEO, Martin Senn, and will continue to be based at the Farmers headquarters in Los Angeles.
Dailey joined Farmers in 2007 as president of Personal Lines for Farmers when Farmers acquired Bristol West Holdings, where he served as Bristol West CEO.
In January 2011, Dailey was promoted to his current position as president and COO.
Senn said that Dailey’s 30 years of experience in the insurance industry as well as his strategic vision, proven track record and personal commitment make him a valuable addition to their senior management team.
Aetna Inc. has released the results of a new consumer survey as open enrollment for employer-offered insurance plans comes to a close. The results of the survey show that more than half of insured adults in the U.S. find the terms of their insurance policies confusing. This presents a major problem for both insurers and consumers as these adults general tend to accept any terms they are given as they believe that any insurance coverage, even if it is not appropriate to their needs, is better than no coverage at all.
According to Aetna, among the most misunderstood terms of an insurance plan is the total cost of the plan itself.
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