Agency Management

Businesses buy insurance coverage to protect them from liability for various insured risks, and in many cases to shift to the insurer the burden of defending lawsuits

UMB Scout Insurance Services, Inc. announced the brokerage has arranged to purchase Chapman-Sander, an independently-owned insurance agency in St. Louis, Mo., in an all-cash deal. Financial details were not disclosed.

With the dust starting to settle from the recession that hammered the economy and state budgets so hard in 2008

Property and casualty insurance companies grew more popular with New York agents during the first half of the year, according to survey results released by the Independent Insurance Agents & Brokers of New York.

Marsh & McLennan Companies reported a second-quarter net loss of $193 million after a $315 million charge related to the sale of one of its businesses.

Hefty claims against financial institutions, sparked by slumping stock prices, has professional indemnity and directors and officers insurance prices soaring for that sector, a report said.