Aon Benfield has agreed to serve as placement advisor to a new sudden oil spill consortium formed to deliver larger liability limit coverage for deepwater drilling in U.S. waters, Aon and Munich Re announced.

Brian Duperreault, president and CEO, Marsh & McLennan, USA, will be the 2011 International Insurance Society (IIS) Insurance Hall of Fame inductee, the group announced.

Jim Ridling will continue to be the insurance commissioner in Alabama despite a change at the governor's office.

Chicago-based insurance broker Aon Corp. said it has acquired Ireland-based online personal insurance broker Insure.ie.

The property and casualty insurance industry suffered a 3 percent slide in third-quarter net income, causing a drop in the rate of return on surplus, but nine-month results show a robust increase of 62 percent, according to a an industry report.

Rep. Dennis Moore, D-Kansas, has introduced legislation in Congress with strong support from the reinsurance industry that would create a federal license for reinsurers.

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.

Local reinsurers are expected to benefit from new regulations in Brazil that require local insurance companies to cede 40 percent of reinsured risk to local reinsurers, according to Moody's Credit Outlook.