Financial Services

Mass. auto coverage reforms face much criticism

Massachusetts’ move toward a more competitive auto insurance industry is facing resistance.Some consumer advocates are criticizing the state insurance commissioner’s proposed “managed competition” rules,...
HAMILTON HARBOUR, a condo complex carved out of two old mills in North Kingstown, needed extensive repairs this year. Webster Bank provided $400,000 in financing.  /

Webster carves out niche lending to condo groups

Things seemed to go bad all at once at Hamilton Harbour.Rot ate away at the exterior siding at the 67-unit condominium complex in North...

Home loan brokers will need license

To state Sen. William Walaska, it didn’t make sense that Rhode Island regulated professionals such as auctioneers and travel agents, but not people who...
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‘Reverse’ plan can be way to independence

While there are many elderly homeowners using reverse mortgages to help shore up their financial positions, the growth in this relatively new tool is...

Lenders keep eye on Fed but don’t fret much yet

Banks and other financial institutions, contending in recent weeks with a global liquidity crunch spurred by the national collapse of the subprime housing market,...
JOHN REGAN, right, senior VP for commercial lending at The Washington Trust Co., says the bank is increasing its committment to commercial lending. At left is Richard G. Dunn, VP of commercial lending at the bank. /

Commercial credit still OK in R.I.

Despite a tightening lending climate in other markets, banks in Rhode Island report that their commercial loan portfolios have been strong – and most...
BEACON MUTUAL, above, today paid $500,000 to the State of Rhode Island, in the first installment of the settlement the company reached July 27 with the R.I. DBR. /

Judge clears way for Beacon Mutual settlement

PROVIDENCE – A decision by Superior Court Judge Michael Silverstein has cleared the way for The Beacon Mutual Insurance Co. to begin making payments...
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Pending home sales plunge record 12.2% in July

WASHINGTON – The number of contracts signed for existing homes in July fell 12.2 percent from their June level, after rising 5.0 percent a...
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Falvey keeps staff connected and gets feedback

Five years ago, Michael Falvey challenged his employees to work as a team and decide on their future with Falvey Cargo Underwriting. He did not...
ADVANCED FINANCIAL SERVICES is a great place to work, employees and managers say, because of its culture of honesty and open communication. /

AFS finds it pays to have an ‘open-book’ policy

Kurt Noyce, president of Advanced Financial Services Inc., needs to clear another spot on the company’s trophy shelf. For the second year in a...
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