Agency Management

Agents and brokers struggling to grow in a shrinking economy cannot expect to see revenue bolstered by hardening commercial insurance prices anytime soon.

While the property and casualty insurance industry is seeing signs of returning fiscal health, policyholders should monitor the financial stability of insures in their portfolio, executives advised.

The Commercial Insurance Agency of the Year Award program, run by National Underwriter, has been expanded and is being managed in partnership with its sister publication, American Agent & Broker, with entries due by July 1.

The airline industry paid about 20 percent more on average for lead hull and liability prices in 2009, but those increases are expected to slow, thanks to an improved economic picture for the insurance industry, according to a report from Aon.

Aon announced it will hold its 10th Middle East Energy Insurance Conference April 19-21 in Bahrain.

Aon insurance brokerage said Michael Bungert, chief executive officer of Americas for Aon Benfield, and Dominic Christian, chief executive officer, international for Aon Benfield, will serve as co-CEOs of Aon Benfield reinsurance brokerage.