Low-Cost Online Commercial Lines Quoting Tool for P/C Agents Launched

The launch of a real-time commercial lines rater that gives agents access to a handful of large carriers was announced today by a division of Networked Insurance Agents. MyNTrack, a division of Grass Valley, Calif.-based Networked, integrates with the technology of seven carriers through the use of cloud computing to produce single-entry, multi-line bindable quotes in more than 4,000 classes, according Paula Joudrey, vice president of MyNTrack. MyNTrack allows licensed and insured agents online access for a $59 signup and a monthly fee of $39, according to the company, which launched the product without fanfare last week.

California Commissioner Jones Announces Settlement for Earthquake Policyholders

The California Department of Insurance has settled a noncompliance action against GeoVera Insurance Co. following a 2010 investigation into consumer complaints concerning GeoVera’s underwriting practices. GeoVera will pay refunds to policyholders, in addition to a $235,000 fine, and take a number of corrective actions, as a result of the settlement

Insurance Fight Shows Catholic-Evangelical Ties

After the White House decreed this month that religious employers would have to pay for workers’ birth control, it was no surprise that Roman Catholic leaders would protest. That evangelical Protestants would rally to their cause was less expected and unthinkable even a generation ago. “It’s just the common good.

N.J.-based Prudential Group Insurance Names Chief Information Officer

Prudential Group Insurance, a unit of Prudential Financial in Newark, N.J., appointed Joseph Hayes vice president, information systems and chief information officer. He will be responsible for group insurance technology and systems, as well as collaboration on business strategies throughout the organization. Hayes began his Prudential career in 1997 and has held a number of positions in operations and systems, including activities in support of Prudential’s demutualization and initial public offering.

Roush Joins B & B in Southern California

Stephanie Roush has joined Agoura Hills based B & B Premier Insurance Solutions Inc. as an account executive. Roush, who specializes in workers’ compensation and business insurance, joined the B & B after relocating to California from her native Colorado

Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders

Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire Hathaway Reinsurance Group, personal lines powerhouse GEICO and General Reinsurance Corp. among other insurance operations.

Buffett Adds to Bullish U.S. Economic Recovery Signals

Anyone looking for more evidence of a strengthening U.S. economic recovery need only consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits. Even though Berkshire’s Warren Buffett says with emphasis that the housing market is still in a depression, he was as upbeat as ever this weekend on the rest of the dozens of businesses he owns.

AIG’s Benmosche: ‘AIG Has Not Only Survived, It’s Got Its Strength’

AIG’s top executives struck an optimistic note as the insurer reported strong 2011 fourth-quarter profit results.

Ironshore Opens P/C Production Center in Boston for Wholesale Market

Ironshore Inc. has opened a property/casualty production center in Boston dedicated to the insurance wholesale market, the company said. The new center will focus on serving the East Coast, including New England, New York, Atlanta and the Mid-Atlantic regions.

Allianz Posts $3.73 Bn Net Income; Hit by Cat Claims, Sovereign Debt, Banks

Catastrophe claims and write downs on investments in sovereign bonds and banks were behind the profit fall revealed by Allianz, Europe’s biggest insurance group. On Thursday it reported net income of €2.804 billion [$$3.777 billion], missing estimates by almost half a billion euros. Net income for 2010 was €5.209 billion  [$7.0165 billion]

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