Agency Management

The Senate late Thursday night passed historic legislation making the most sweeping changes to financial services regulation since the Depression by a vote of 59-39.

Marsh & McLennan Companies' chief executive indicated there are no plans to break up the company--emphasizing it is more powerful together than apart--but he said nothing to damper press speculation about the sale of Kroll.

If there is a silver lining for businesses that have shed workers and seen sales drop during the recession, it may be cheaper insurance, but agents and brokers need to be made aware of changes as soon as possible.

The Senate voted today to limit further debate on financial services reform legislation, setting up likely final passage of the bill by Friday.

With weather forecasters calling for a worse-than-average 2010 Atlantic basin hurricane season, the Institute for Business & Home Safety (IBHS) provided the following list of ways to protect a structure in such a disaster:

The Department of Health and Human Services should not define a "medical loss" too rigidly in regulations developed around the new health care law, property and casualty and health agent trade groups said.

The commercial insurance market should see continued stability in 2010, with competition and capacity keeping rates attractive for buyers, according to a report released by Marsh.

Purchasing insurance is not the answer to a corporation's cyber risk and information technology security exposures, but the last piece of a complete security process, according to a broker from Marsh.