New York State's two major producer groups said they have received approval from the State Department of Insurance for their model forms that member agents and brokers can use to comply with New York's new disclosure requirements.
After five years of being subject to what some publicly argued was an unlevel playing field, state attorneys general relented, agreeing to lift the ban and allowing the three major insurance brokerage firms.
The property and casualty insurance industry is on the road to showing a profit for 2010 despite a 3 percent slide in third-quarter net income, an industry report said.
The National Association of Insurance Commissioners decided to pursue its own program for the collection of surplus lines taxes--a bare bones approach that does not tackle the issue of regulatory uniformity.
Insurers have a potentially vast new marketplace for innovative insurance solutions for the poor that can reach up to four billion people with potential premium of up to $40 billion, according to a report from Swiss Re.