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USI Holdings Corp. insurance brokerage in Briarcliff Manor, N.Y., said it has signed an agreement to acquire a number of retail employee benefit insurance brokerage offices from the PNC Financial Services Group Inc.
Property and casualty insurers are seeing rising loss costs, increased levels of litigation, and higher rates of fraudulent claims because of the struggling economy, a recent survey revealed.
Harleysville Group Inc. said underwriting discipline helped it post 2009 fourth-quarter net income of $24.2 million, a 426 percent increase over the period in 2008 when the figure was $4.6 million.
Endurance Specialty Holdings Ltd. announced the appointment of David Cash as chief executive officer and William M. Jewett as president, two posts held by Kenneth J. LeStrange.
The spreading epidemic of bogus health plans is hitting small businesses as well as consumers, a spokesman for the Coalition Against Insurance Fraud said.
Liberty Mutual Insurance Co. has brought a federal court action arguing that a sham transaction by General Re Corp. inflated the value of a company it sold to Liberty by millions of dollars.
To the relief of workers' compensation insurers and self-insured risk managers, the government has extended their deadline for reporting under the Medicare Secondary Payer Act until next year.
The Obama administration, launching an effort to get its health care reform legislation back on track, issued a report indicating that without changes health insurance premiums will continue to skyrocket.
So far State Farm is the only insurer to unearth data linking auto accident claims to problems with Toyota manufactured cars and trucks, but airing of industry statistics is still likely during two House hearings next week.
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