The struggling economy will spur mergers and crimp insurers' profits in the short term, but down the road it offers them opportunities to achieve efficiencies and greater growth, the head of the Life Office Management Association said.

Property and casualty insurer Zurich said it is entering the risk retention group and self-insurance groups markets.

Any firm targeting high-tech companies as a critical niche must not only talk the talk but walk the walk with prospects and clients, or risk losing accounts to more cutting-edge service providers.

With independent agencies struggling to survive in this anemic economy, many are looking to join with a bigger operation to bolster their leverage with carriers, gain access to new markets and achieve economies of scale.

Reduced sales volumes, lower investment returns, declining stock value and consumer behavioral changes are all evident in the property-casualty and life insurance markets

Independent agencies that do an outstanding job for their clients are urged to enter the 2009 National Underwriter "Commercial Insurance Agency Of The Year" award program, with entries due July 13.

California Insurance Commissioner Steve Poizner said yesterday that he has approved a cut in State Farm auto insurance rates averaging 8 percent per policyholder.

The Hartford Financial Services Group, Inc., one of the nation's largest financial services companies has appointed Brian Griffith to lead property and casualty's National Client Practices (NCP) group.