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With $100 billion in excess capital, the property and casualty insurance market is not turning, a Wall Street analyst said Thursday, and a carrier executive attributed existing conditions to the absence of AIG's historical price leadership.
Moody's Investors Service has affirmed the ratings of Marsh & McLennan Companies, Inc. following the announcement that MMC has agreed to sell Kroll Inc. to Altegrity, Inc. for $1.13 billion in cash.
A 60-year-old man was recently arrested for receiving workers' compensation payments after he swore he could hardly get out of the house and could not even walk after a work-related injury.
The conference panel charged with reconciling the House and Senate financial services reform bills will take up the powers of a federal insurance office and surplus lines reform next week on Tuesday.
David H. Long was named president of Liberty Mutual Group, effective July 1, the company's chairman and chief executive officer, Edmund F. Kelly, announced late Wednesday.
A New York independent insurance agent's association dug in its heels in opposing the state Insurance Department's new producer disclosure regulation but is making further preparations to educate producers about the rule when it takes effect Jan. 1.
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