Company News
Pennsylvania insurance companies merge
Four small mutual insurance companies in Pennsylvania merged into one on October 1, 1996. "We will be able to reduce expenditures, provide a more complete set of products, and be more competitive over the long term," said Herman Bontrager, president and CEO of Goodville Mutual Casualty Company of New Holland, one of the four merged companies.
The other companies are Franconia Mennonite Aid Plan of Harleysville, Mennonite Mutual Insurance Association of Intercourse, and Tri-County Mennonite Mutual Insurance Company of Gap.
The new company, to be called Goodville Mutual, has over $18 million in policyholders' surplus and total assets of more than $33 million. Goodville Mutual now has 53 employees and writes over 52,000 policies, with premium revenue of about $22 million.
The company now serves policyholders through independent agents in the home state of Pennsylvania as well as in Delaware, Illinois, Indiana, Kansas, Maryland, Ohio, Oklahoma and Virginia.
Massachusetts
Lexington agency names president
Thomas E. Jackson of Rye Beach, New Hampshire, was named president and chief operating officer of DeWolfe Insurance Agency, a new subsidiary of the Lexington-based DeWolfe New England. DeWolfe Insurance Agency was formed to offer personal insurance products in eastern Massachusetts, New Hampshire, Connecticut, southern Maine and northern Rhode Island.
Other subsidiaries of DeWolfe New England provide residential real estate services, mortgage banking and relocation services to corporations.
Prior to joining DeWolfe, Jackson had served as president and CEO of the Family Insurance Network and as an insurance consultant with Solutions Consulting. He also served as president and CEO of Quantum Corporation from 1981 to 1991.
CPCU sponsors workshop on business income coverages
A half-day workshop on business income coverages, co-hosted by the Boston Chapter of the CPCU Society, will be held on January 29, 1997.
Robert B. Edgar, vice president, Chubb & Son, Inc., will be the featured speaker. Edgar has authored many works on the subject of risk management for property and business interruption exposures.
Participants will learn: the five components of a business income loss; what is new and what is not new in the ISO business income coverage forms; how business income/extra expense coverages may be used to finance a "business continuation plan" following a loss; and how to complete the Business Interruption Work Sheet.
Cost for the workshop is $90 ($80 for CPCU Society members).
For further information, call
800-932-CPCU.
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