Insurance Brokers

‘Zero-premium’ insurance could leave hospitals hurtingRestricted Content

November 2, 2013
J.K. Wall
So-called “zero-premium plans” are priced in such a way that their premiums would be no greater than the federal tax subsidies that low-income buyers could claim.
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Shepherd Insurance agency goes on buying spree

January 21, 2013
J.K. Wall
The Carmel insurance agency acquired three separate companies in a flurry of activity at the end of the year that will add 17 people to its staff.
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Tobias Insurance agency merges with Florida firm

January 10, 2013
Tobias Insurance, the Indianapolis area's eighth-largest independent insurance brokerage, is now part of Florida-based AssuredPartners. Tobias will retain its name, employees and leadership.
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Longtime insurance agency acquired by local rivalRestricted Content

October 6, 2012
Property-casualty and employee benefits firm MJ Insurance buys Mead & Co., which dates to the 1860s.
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Employee benefits firm plans Indianapolis expansion

July 30, 2012
 IBJ Staff
Apex Benefits Group plans to invest $1 million and add 25 jobs paying an average of $44 an hour.
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Benefits brokers gain ground without mergingRestricted Content

June 16, 2012
J.K. Wall
While mergers and acquisitions have been rampant in central Indiana’s benefits-broker industry the past five years, a handful of brokers has grown the old-fashioned way—by adding clients.
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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 gotta stop this Senior crime. Perhaps long jail terms for these old boozers is in order. There are times these days (more rather than less) when this state makes me sick.

  2. One option is to redistribute the payroll tax already collected by the State. A greater share could be allocated to the county of the workplace location as opposed to the county of residency. Not a new tax, just re-allocate what is currently collected.

  3. Have to agree with Mal Burgess. The biggest problem is massive family breakdown in these neighborhoods. While there are a lot of similiarities, there is a MASSIVE difference between 46218 and 46219. 46219 is diluted by some stable areas, and that's probably where the officers live. Incentivizing is fine, but don't criticize officers for choosing not to live in these neighbor hoods. They have to have a break from what is arguably one of the highest stress job in the land. And you'll have to give me hard evidence that putting officers there is going to make a significant difference. Solid family units, responsible fathers, siblings with the same fathers, engaged parents, commitment to education, respect for the rule of law and the importance of work/a job. If the families and the schools (and society) will support these, THEN we can make a difference.

  4. @Agreed, when you dine in Marion County, the taxes paid on that meal go to state coffers (in the form of the normal sales taxes) and to the sports/entertainment venues operated by the CIB. The sales taxes on your clothing and supplies just go to the state. The ONLY way those purchases help out Indianapolis is through the payroll taxes paid by the (generally low-wage) hourly workers serving you.

  5. The government leaders of Carmel wouldn't last a week trying to manage Indianapolis. There's a major difference between running a suburb with virtually no one below the poverty level and running a city in which 21+% are below the poverty level. (http://www.census.gov/did/www/saipe/data/interactive/#view=StateAndCounty&utilBtn=&yLB=0&stLB=15&cLB=49&dLB=0&gLB=0&usSts_cbSelected=false&usTot_cbSelected=true&stateTot_cbSelected=true&pLB=0?ltiYearSelected=false?ltiYearAlertFlag=false?StateFlag=false?validSDYearsFlag=false)

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