Agency Management

New York State Insurance Superintendent James Wrynn and the state Assembly and Senate Insurance Committee chairs will discuss New York property and casualty insurance issues at The New York Insurance Association Inc.'s upcoming 2010 Annual Conference.

Insurance agents in Tennessee challenged by the number of claims from floods and tornadoes that hit the state may also be dealing with the prospect of lawsuits over accusations that they failed to properly advise customers about flood insurance.

Association officials believe provisions aimed at modernizing the excess and surplus lines marketplace will be retained in the final version of financial reform legislation that will be reconciled between the House and Senate.

Joe Plumeri, chairman and CEO of Willis, told insurance executives that the new U.K. government must address the struggling economy to spur growth in the British insurance industry and called on the EU to resolve pending regulatory issues.

Fairfax Financial Holdings Limited has completed its acquisition of Zenith National Insurance Corp. for $38 per share in cash, the company announced.

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.