XL Capital Ltd., the Bermuda-based insurer whose profits have been off, has announced that the company and its chief financial officer, Brian Nocco, have agreed to part ways at year's end.

Former New York Insurance Superintendent Eric Dinallo, speaking at an industry conference, said he believes producers' acceptance of contingent commissions from insurers is "a clear conflict."

Toronto-based Fairfax Financial Holdings Limited is making a bid of approximately $960 million to acquire a minority stake in Stamford, Conn.-based Odyssey Re.

After doubling in size last Monday, the "Station Fire" in California threatened homes and commercial properties with a total insured value of more than $17 billion.

Health insurance coverage should be required for all, similar to the way most states require auto insurance, the National Association of Insurance Commissioners said late last month.

At the group's June meeting, the National Association of Insurance Commissioners discussed a proposal to set up a new commission aimed at facilitating regulatory uniformity, National Underwriter learned recently.

News of a discussion among a group of state regulators aimed at creating a National Insurance Supervisory Commission isn't being welcomed by one state legislator.

The insurance industry has written specialty policies to cover many risks that fall well outside of the proverbial box.