Liberty Mutual Insurance Co. has brought a federal court action arguing that a sham transaction by General Re Corp. inflated the value of a company it sold to Liberty by millions of dollars.

Agents and brokers were warned at an industry conference that workers' compensation coverage written for a business operation in one state won't protect that firm's operations in other jurisdictions.

Citing the effects of the recession and continued soft market conditions, Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. reported net income in the fourth quarter dropped 29 percent.

An agreement reached between the three major insurance brokerages and New York, Illinois and Connecticut officials opens the door for the firms to resume taking contingent commissions.

W.R. Berkley reported fourth-quarter net income at the Greenwich, Conn.-based insurance carrier rose 233 percent on the strength of its improved investment portfolio.

The property and casualty insurance industry continued to edge out life and health insurers in a customer satisfaction survey, but overall satisfaction with p&c dropped slightly, according to a national survey.

Independent agents give the bulk of their business to insurers who provide contact people, prices, products, and other factors they like, according to a survey released by marketing information firm J.D. Power and Associates.

Independent insurance agents give the bulk of their business to insurers who provide contact people, prices, products, and other factors they like, according to a survey released by marketing information firm J.D. Power and Associates.