Agency Management

Rules for disclosure of compensation arrangements between insurance brokers and surplus lines insurers are ill defined, according to an industry trade group representative.

Beecher Carlson brokerage has agreed to refund $90,000 to Massachusetts customers settling allegations it placed coverage with insurers without telling clients that carriers were paying a fee.

While insurers need to do a better job involving their producers in strategic and operational decisions, such communication must be a two-way street, says NU Editor Sam Friedman in his blog today at www.NUSamSoapBox.com.

A survey of U.S. consumers' experience with a variety of professions finds they rate their interactions with independent insurance agents as less than enjoyable.

Ship owners faced a more benign protection and indemnity (P&I) insurance renewal season as of last week, according to the marine division of Aon Risk Services, subsidiary of Chicago-based insurance broker Aon Corp.

Insurers keep shooting themselves in the foot, with the latest example how they handed President Obama fresh ammunition on health insurance reform by sending individual rates soaring, says NU Editor Sam Friedman on his blog at www.NUSamSoapBox.com.