The Massachusetts IFB’s latest report reviews fraud trends, enforcement statistics, the Maxwell decision and key compliance lessons for insurers and agencies.
WTW Sues Lockton After 18 Employees Exit in 44 Minutes
WTW sued Lockton after 18 construction brokerage employees resigned within 44 minutes, alleging client solicitation, contract breaches and fiduciary-duty violations.
First Circuit: No Broker Duty Without an “Intelligible Request”
The First Circuit affirmed dismissal of negligence, contract and fiduciary-duty claims against Marsh, holding that disclosing a yacht did not constitute an intelligible request for additional insurance coverage.
Dowd Agencies Return To Full Family Ownership With Buyback Of Quincy Mutual’s 20% Interest
The Dowd Agencies repurchased Quincy Mutual’s minority ownership interest, restoring full family ownership after a decade-long strategic alliance.
NAIC: Northeast Homeowners Market Competitive Though Nonrenewals Jump 147%
NAIC data show Northeast homeowners premiums rose 55% since 2018 while nonrenewals surged, even as the region remained highly competitive.
