E&S/Specialty

Federal and state activity to create rules and laws for the insurance industry has surged this year increasing demands on carrier resources, a consulting firm said.

A large majority of insurance executives in the United Kingdom believe that if the government does not overhaul the tax system there will be a drop in the number of insurers based there, a trade group survey finds.

The decline in insurance prices is finally showing signs of hitting bottom, with commercial property and casualty premiums overall dropping an average of 5 percent last month--half the rate of one year ago, MarketScout's "barometer" survey found.

Legislation passed by the U.S. House of Representatives this month reforming regulation of the surplus lines and reinsurance markets should be part of a more comprehensive measure modernizing oversight of the entire industry.

President Barack Obama declared that reforms will be passed this year to prevent the financial industry from relapsing into the habits that almost collapsed financial institutions like American International Group.

While networking activities between specialty insurers and brokers remain the centerpiece of the annual meeting of NAPSLO, one new item on this year's schedule promises to bring two generations of NAPSLO members together.