Agency Management

A hard market may not be arriving anytime soon, but several insurance executives at last week's S&P conference suggested that the industry is in good shape, even in the midst of a struggling economy, while others warned against complacency.

The chief executive of the online insurance exchange MarketScout announced that three unnamed insurers are keeping rates low at a time when business realities call for market hardening.

Marine insurers are seeking rate increases on all classes of business, but ample capacity is keeping the marketplace competitive, Aon brokerage reported.

Authorities issued a "Scam Alert" yesterday warning that imposters were posing as insurance department employees targeting agents and brokers in Nevada and California seeking confidential personal data.

Aon has taken over as sponsor of world-famous British soccer team Manchester United, a marketing spot that was held by American International Group.

Political infighting has left the Texas Department of Insurance facing the possibility of being abolished through legislative inaction, but industry officials say there is no crisis at the moment.