Agency Management

Two groups of forecasters are predicting another busy hurricane season this year after coming off nearly spot-on predictions for a very active 2010 season.

Liberty Mutual reached an agreement with two state attorneys general to pay a total of $7.5 million to settle allegations it engaged in a bid-rigging and kickback scheme with insurance brokers.

Regulatory initiatives dealing with implementation of the financial services reform law, and such old business as providing certainty to the NFIP will keep p&c insurance industry lobbyists extremely busy this year.

Three major themes of the challenges facing property and casualty insurance agents in 2011 come under the headings of managing finances, technology and political mandates.

With each new year, there is the hope that the previous year's problems will fade into the distant past. Often, however, the reality is that those issues remain present challenges.

Passage of landmark health care reform legislation last March is forcing participants in the insurance industry, especially agents, to mobilize in efforts to secure changes to the legislation that ensure they have a role in the industry going forward.