Agency Management

Although stating that the health care reform law will do more harm than good, Arthur J. Gallagher’s chief executive said one benefit of the law will be to fuel the brokerage’s acquisition strategy.

Funding for implementing the medical loss ratio provision of the health care reform law would be eliminated for the remainder of this fiscal year under the budget passed by the House last Saturday.

The turmoil in the Middle East has heightened the interest in political risk coverage as the unrest in that region has increased concerns regarding whether multi-national commercial accounts are adequately covered, an insurance broker said.

Wholesale insurance brokerages continue to make acquisitions in 2011, with Ryan Specialty Group announcing two earlier this month and AmWINS announcing three.

Hosni Mubarak’s resignation as president of Egypt and the subsequent military takeover have brought a measure of stability to the nation, but uncertainty about the future and potential flashpoints throughout the region have insurers casting a wary eye on political risk coverage.

With a deadline looming for states to adopt regulations over the collection and disbursement of surplus lines taxes to comply with provisions of the Nonadmitted and Reinsurance Reform Act, two competing proposals have developed, but inaction might be the best news MGAs and brokers could hear.

With an eye toward jump-starting national momentum for reform, a North Dakota committee became the country’s first legislative body to approve a Surplus Lines Insurance Multistate Compliance Compact (SLIMPACT) this month, with Kentucky close behind.

The Independent Insurance Agents & Brokers of America has named Jennifer McPhillips senior director of federal government affairs.