Agency Management

Humana Inc., has named Tim Love president of its Florida commercial operations. He is Humana's senior commercial executive for the company's Florida markets, which include South Florida, Central Florida and North Florida.

New York-based insurance broker Marsh said it has named Elizabeth Francy Demaret to the new position of managing director and multinational client service director.

The continuing soft market is weakening the credit quality of property and casualty insurers, making their future "problematic," according to an analysis released by Moody's Rating Service.

Marsh & McLennan Companies' chairman, Stephen R. Hardis, will retire in May and be succeeded by Lord Ian Lang.

There appears to be no relief for insurers in the buyer's market for commercial property and casualty coverage, as excess capacity and falling demand have prompted average rate cuts to accelerate.

Almost two years after Hurricane Ike nearly wiped out the town of Galveston, Texas, the Texas Windstorm Insurance Association has agreed to pay an estimated $189 million to policyholders whose homes were destroyed by the storm.

President Barack Obama signed financial services reform into law last week, setting in motion an intense effort by interested parties to shape the regulations and government bodies that will implement the legislation to their liking.

In 2009, the property and casualty insurance industry recovered from a devastating global financial crisis that had drained 12 percent from policyholder surplus and nearly erased the net income recorded the year before.