Insurance Brokers

Bankers Life paying $10M fine following securities probe

April 5, 2012
Cory Schouten
CNO Financial Group Inc. has agreed to pay $9.9 million to settle allegations by regulators in four states that its Bankers Life subsidiary acted as an investment adviser and broker-dealer without proper state licensing.
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S&P completes biggest first-quarter rally since 1998

March 31, 2012
Bloomberg News
More than $3.6 trillion has been restored to U.S. equity values since October amid better-than-estimated earnings and economic data. Indianapolis-based WellPoint Inc. surged 11 percent this week, as the Supreme Court debated the health care law.
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Gallagher sees more broker mergers coming

January 30, 2012
J.K. Wall
The Carmel office of Arthur J. Gallagher & Co. just made its sixth acquisition in five years, and it expects looming changes to tax and health laws to produce even more chances to snap up benefits brokers this year.
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Employers face messy decision to drop health insuranceRestricted Content

July 9, 2011
J.K. Wall
Companies that drop insurance coverage could, without spending any more money than they are now, give workers an 11-percent raise or else help them save as much as $2,000 per year buying health coverage in one of the exchanges, IBJ calculations show.
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United Financial Systems slapped with lawsuit

April 9, 2011
Kathleen McLaughlin
An Indianapolis insurance brokerage disciplined for unauthorized legal practice might now face millions of dollars in claims from more than 4,000 former clients because of a class-action suit filed in Marion Superior Court.
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Health insurance brokers set for shakeoutRestricted Content

February 5, 2011
J.K. Wall
Health insurance brokers, who match up employers with health insurance policies, are about to have a brighter light shone on the commissions they earn from insurers. The likely result: Commissions will fall or flatline and, eventually, fall away in favor of fee-based business models.
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Brown & Brown acquires Mavum benefits brokerage

November 24, 2010
J.K. Wall
Indianapolis-based benefits brokerage Mavum Consulting LLC has sold its assets to Florida-based Brown & Brown Inc., the latest in a wave of broker consolidation in recent years.
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Indianapolis, Fort Wayne brokerages complete merger

September 30, 2010
Ash Brokerage Corp. and InSource Inc. have merged to create Ash InSource LLC, a company with annual fixed and equity-indexed annuity sales of more than $1 billion.
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New McGowan takes helm of insurance agency

August 28, 2010
 IBJ Staff
McGowan Insurance was founded in 1930 by William McGowan, who led it until his death in 1977.
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WellPoint may be anti-competitive, Connecticut AG says

March 8, 2010
 IBJ Staff and Bloomberg News
WellPoint Inc.'s Anthem Blue Cross & Blue Shield of Connecticut may constrain competition through contracts that require that the insurer receives hospital discounts at least as favorable as any provided to a competitor.
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Shepherd Insurance buys rival DeTrude & Co.

December 2, 2009
J.K. Wall
The acquisition of DeTrude & Co. by Shepherd Insurance marks the 13th purchase of an Indianapolis-area benefits brokerage since mid-2007.
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Indiana insurance industry weathers hard times

October 24, 2009
J.K. Wall
Employment in Indiana's insurance industry has remained stable despite a poor economy.
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Oak Street Funding raises $50 million in new capital

September 5, 2009
 IBJ Staff
German group invests in Carmel-based company that specializes in financial services for insurance agencies.
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A.J. Gallagher & Co. strikes again, hires two more benefits brokersRestricted Content

June 29, 2009
 IBJ Staff
National acquisition-and-merger rage among benefits firms continues as Gallagher swallows groups in Noblesville and Louisville. Gallagher's Carmel office grows its client portfolio to 300.
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Benefits mergers on the increaseRestricted Content

March 30, 2009
J.K. Wall
Benefits brokers and agents—facing increasing demands from employers and declining commissions—are merging at an accelerating pace.
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Allied Group Insurance honors clients with charity gifts in their nameRestricted Content

December 8, 2008
The Indianapolis office of Allied Group Insurance Services will make contributions to local charities in their clients' names instead of sending them holiday gifts.
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  1. we love that we were right in our predictions for the outcome of Tony's boondoggle. We aren't negative, we are positive that the league that never has will continue to blow chunks and stink up the place

  2. I was initially excited to learn that this wasn't rubber-stamped, but if all that is required is to add some shrubs and some "window dressing" over the first floor of the garage, then I'd call it a waste of everyone's time. It should be noted that the Hearing Examiner is a DMD employee who reports to the same administrator as the DMD staff planner who recommended approval of the garage and whose report said that the requirement for ground-floor retail had been "satisfied". Better luck with appealing the inevitable approval at the MDC, where the commissioners are appointed by the Mayor, City Council, and County Commissioners, thus, presumably not all obligated to facilitate the administration's plans.

  3. Wheat Thins, when paired with chocolate ice cream!

  4. About the same.

  5. New airport, new Lucas Oil Stadium, expanded convention center, $30,000,000 Pacer gift, Stupid City Way Project, Broad Ripple Parking Garage $ Giveaway, Money blown on lethal bike lanes. The list is endless..

    We have complete morons in City Government with grafter buddies sitting in the wings also stealing parking meter revenue. Go to
    www.adavceindiana.com and read about Chicago Parking Meter Corruption.

    It's all theft of taxpayer resources and complete lack of financial stewardship and devoid of integrity.

    I would just like for basic city services please.

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