Liberty Mutual's third-quarter net income jumped to $265 million from $6 million for the period last year thanks to improvements in investment income and a benign hurricane season, the company's chief executive said.

Willis Group Holdings reported third-quarter net income increased 113 percent on the strength of new business and its acquisition of insurance broker Hilb, Rogal and Hobbs.

The homeowners insurance industry could be in crisis over the next decade if regulators and lawmakers do not allow insurers to charge actuarially sound rates for the business, declared a report from Aon Benfield.

The Travelers Companies, Inc., reported third quarter net income rose 337 percent over the same period last year thanks to improved underwriting and investment performance from the prior year.

Connecticut Attorney General Richard Blumenthal announced that The Hartford Financial Services Group, Inc. has settled reinsurance price fixing allegations for $1.3 million.

The soft market continued to bottom out last month, as property and casualty insurance rate declines averaged 4 percent, compared to 5 percent in August, according to the Market Barometer survey by MarketScout.

When it comes to agent and broker errors and omissions risks, one area where agents might be missing potential liability concerns their exposure to data breaches, one major surplus lines broker warns.

Thanks to a poor economy and lingering soft market, independent agencies have seen their return to shareholders deteriorate significantly over the past two years, the "2009 Best Practices Study" revealed.