Agency Management

The Commercial Insurance Agency of the Year Award program, run by National Underwriter, has been expanded and is being managed in partnership with its sister publication, American Agent & Broker, with entries due by July 1.

The airline industry paid about 20 percent more on average for lead hull and liability prices in 2009, but those increases are expected to slow, thanks to an improved economic picture for the insurance industry, according to a report from Aon.

Aon announced it will hold its 10th Middle East Energy Insurance Conference April 19-21 in Bahrain.

Aon insurance brokerage said Michael Bungert, chief executive officer of Americas for Aon Benfield, and Dominic Christian, chief executive officer, international for Aon Benfield, will serve as co-CEOs of Aon Benfield reinsurance brokerage.

Brown & Brown Inc. insurance brokerage said it will pay a regular quarterly cash dividend of 7.75 cents per share payable on May 19 to shareholders of record as of May 5.

Insurance agencies need to abandon the idea that providing value-added service will be enough of a differentiator for them to survive and thrive, the managing principal from Hales & Company said.