Agency Management

Trade groups representing agents who sell health insurance are seeking congressional support for legislation that will exempt agent commissions from the medical loss ratio formula recently approved by the Department of Health and Human Services.

Property and casualty trade groups urged Congress to keep trying after the Senate failed late Monday to pass legislation that would repeal a tax reporting provision of the health care reform law.

According to Fast Facts 2010 issued today by the Florida Office of Insurance Regulation, the office regulated almost 4,000 insurance entities during its fiscal year ending June 30, 2010.

For fiscal year 2010, the U.S. Equal Employment Opportunity Commission received nearly 100,000 new private sector charges of employment discrimination--a record high and a jump of 7 percent over 2009, the agency reported.

Chicago-based insurance broker Hub International Limited said it has signed a definitive agreement to acquire the assets of Byars Thompson Buchanan Insurance & Financial Services, LLC (BTB).

Daytona Beach, Fla.-based insurance broker Brown & Brown said its subsidiary, Brown & Brown of Indiana, has acquired Mavum Consulting and Mavum Risk Management.

Florida and Louisiana have reduced the number of high-risk policyholders covered by their state-run property insurers of last resort since 2008 while still leaving non-coastal property owners vulnerable.

Insurance agents plan to take their battle to retain their current health care insurance commissions to Congress.