Insurers Lose Out To Dishonest Brokers

June 2008
Best's Review;Jun2008, Vol. 109 Issue 2, p12
Trade Publication
The article presents a report that was published in the journal 100 years ago concerning the unscrupulous practices of insurance brokers and agents in the insurance industry in the U.S. The June 15, 1908 edition of the journal states that dishonest brokers have contributed to large company losses. These brokers placed lines without authority, causing surplus lines companies to struggle because brokers could not collect the earned premium.


Related Articles

  • Insurance could rise significantly.  // Travel Weekly (UK);3/20/2009, p2 

    The article analyses the impact of the Equalities Bill concerning age discrimination, which could come into effect by 2010 in Great Britain. Insurance brokers are concerned that the Bill could mean spiraling premiums. The article states that it would also mean that insurance will become more...

  • Landmark Insurance Co. Lenckus, Dave // Business Insurance;9/11/2006, Vol. 40 Issue 37, p30 

    The article features Landmark American Insurance Co. The company ranks eighth in the largest surplus lines insurer in the U.S. with its nearly $699.7 million of nonadmitted premiums written in 2005. Hurricane damage claims have caused the business loss of $629,082. Its new source of business are...

  • Premium Deposits: Dishonored Checks and Cash Payments. Gabay-Rafiy, Sari // Insurance Advocate;1/25/2010, Vol. 121 Issue 2, p12 

    The article offers information on an insured's check in New York which is not recognized for its insufficient balance. The Insurance Department offers suggestions to avoid such problems, which include the making of the insured's check payable to the insurer and making sure that the check is...

  • IIABNY Hails "Fees" Defeat.  // Insurance Advocate;3/24/2008, Vol. 119 Issue 6, p6 

    The article reports on the effort of the Independent Insurance Agents & Brokers of New York Inc. (IIABNY) to lobby against the proposed increases in insurance fines in Albany, New York. It is noted that the proposal will force agencies and brokerage out of business since it contains extensive...

  • Brokers See No End To Soft P&C Pricing. Postal, Arthur D. // National Underwriter / P&C;2/1/2010, Vol. 114 Issue 4, p10 

    The article presents the latest market index survey conducted by the Council of Insurance Agents and Brokers (CIAB) which reveals the average decline of insurance premium rates to 5.6% during the fourth quarter. It mentions that two-thirds of the respondent-brokers asserted no increase of demand...

  • INSURANCE BROKERS. G├éRBO, Viorica Irina; PINTEA, Florin Radu; VLAD, Daniel Valerius // Quality - Access to Success;2015 Supplement 2, Vol. 16, p33 

    Insurers underwrite insurance products through insurance agents and brokers named insurance intermediaries who receive a commission representing the share of insurance premiums collected. Insurance intermediaries are required to enroll in the register of insurance intermediaries. Registration or...

  • Atlantic Canada: A Political Roller-Coaster. Brien, Mike // Canadian Underwriter;Dec2004, Vol. 71 Issue 12, p54 

    Presents views from an insurance broker regarding the insurance industry in Atlantic Canada. Factor which influences a competitive insurance marketplace; Advantage of the premium increases on brokers; Advice for brokers with a long-term perspective.

  • Leap Frog. Gambrill, David // Canadian Underwriter;Feb2008, Vol. 75 Issue 2, p4 

    The author reflects on the issue regarding the need of independent insurance brokers in Canada for a single-entry, multiple-carrier interface (SEMCI)-style solution, now that the CSIO Portal has closed shop in late 2005. He said that technology vendors offered proprietary technology solutions,...

  • Reaching Maturity. Campbell, Kevin // Canadian Underwriter;Feb2008, Vol. 75 Issue 2, p40 

    The article reports about commercial data exchange in Canada. Insurance companies being asked by their brokers about commercial data exchange are responding to these requests to become more efficient. In a technology survey done in 2006 by the U.S. standards group ACORD found that the greatest...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics