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Insurers have rub with advisers.
'Abuse' sends policy rider deductibles soaring
Widespread abuse is turning a godsend for some financial advisers into a devilishly expensive proposition for everyone else.
Battered by a rash of claims, insurance companies are hiking deductibles to eye-popping levels on policy riders sold to financial advisers to cover losses caused by mistakes.
The move could force many small and midsize financial advisories to drop their insurance coverage at a time when investor lawsuits are on the rise.
Chubb Group of Insurance Companies in Warren, N.J., is leading the pack, recently hiking the deductible on its standard cost-of-corrections rider to $500,000, from between $100,000 and $250,000 for most accounts, according to Evan Rosenberg, senior vice president in Chubb's department of financial institutions.
- INSURERS.(directory of health insurance companies in New York, New York)
- Magazine article from: Crain's New York Business July 16, 2001 700+ words
ABC Health Plan 16 E. 16th St. New York, NY 10003 (212) 633-0815 Audrey Brahamsha...Aetna U.S. Healthcare 99 Park Ave. New York, NY 10016 (212) 457-0700 Mary Claire...insurance. Alicare Inc. 730 Broadway New York, NY 10003 (212) 539-5217 Deanna Lang...
- NEW YORK'S INSURANCE COMPANIES GET A GOOD BILL OF HEALTH.(Business)
- Newspaper article from: Albany Times Union (Albany, NY) June 30, 1991 700+ words
...Business writer New York's top insurance...regulators contend that insurance companies operating in the...which monitors all insurance companies licensed to do...Executive Life of New York - a life insurance...Assurance Co. of New York got a C. ...
- Car insurance companies drop prices in New York.
- Newspaper article from: Daily News (NY, NY) June 27, 2005 700+ words
...state officials said yesterday. Ten other New York insurers already have lowered their rates...latest round of insurance cuts means that New York -- which has the second-highest premiums...Copyright (c) 2005, Daily News, New York Distributed by Knight Ridder/Tribune...
- AIG, Kemper, Pru Join Forces To Form Personal Lines E-Agency.(American...
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management TREMBLY, ARA C. February 19, 2001 700+ words
American International Group Inc. in New York, Kemper Insurance Companies in Long Grove, Ill., and Prudential Insurance Company of America in Newark, N.J., have announced plans to jointly enter...
- Prominent New York Personal Injury Lawyer Says Insurance Companies Thwart...
- News wire article from: PRWeb May 19, 2009 700+ words
...COMTEX) -- One of New York's best personal...perecman.com/insurance-companies-thwart-employees...perecman.com/insurance-companies-thwart-employees...chair of the New York State Trial Lawyers...to work, said New York workers ...
- Agreement Between New York State Trial Lawyers and Auto Insurance Companies...
- Press release article from: Business Wire June 24, 2005 700+ words
...is the result of a cooperative effort between insurance companies and the New York State Trial Bar," said Jim DeVito, New York...product manager, Progressive. "It is a win for insurance companies because it will reduce the number of frivolous...
- New York's Highest Court Rules That Insurance Companies May Be Liable For...
- News wire article from: Mondaq Business Briefing March 11, 2008 700+ words
...both insurers and insureds, the New York Court of Appeals (the state...retail meat market in Rochester, New York. Bi-Economy alleged that its...consequential damages against insurance companies, the Court of Appeals relied...
- NEW YORK AREA'S LARGEST INSURANCE COMPANIES.(Illustration)
- Magazine article from: Crain's New York Business July 20, 1998 700+ words
...Lufkin & Jenrette Inc. AXA Group New York Life Insurance Co. Seymour Sternberg...Madison Ave. Chairman, president and New York Life International, Manhattan 10010...700 700 American Life Insurance Co. of New York, 11 320 Park Ave. President and chief...