Insurance and reinsurance broker BMS said it has named Nick Cook to the new position of chief executive officer of its London market wholesale business.

The fifteenth named storm of the Atlantic hurricane season remains on course away from the United States and is headed toward Portugal's Azores Islands as it became a hurricane today.

The Independent Insurance Agents & Brokers of America recognized two insurance carriers for their best practices performance benchmarks and 11 state insurance associations for excellence in education.

Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired Florida-based T.R. Jones & Co., a subsidiary of Beecher Carlson Holdings Inc. Financial terms of the transaction were not released.

Thirty-four-year-old Aaron Jones and his family seemed to have it all. That is, until it all went up in smoke and Jones was tried on felony convictions.

Zurich Financial Services Group said its subsidiary, Farmers Group has agreed in principle to a $545 million settlement of a class action lawsuit that had accused the insurance group of overcharging for fees paid by the Farmers Exchanges.

The National Risk Retention Association (NRRA) said it will push next year for federal legislation to allow for dispute resolution for risk retention groups facing state regulatory obstacles.

Insurance broker Brown & Brown Inc. said it has acquired New York-based Martin Benefits Consulting, LLC and Martin Human Resources, LLC.