News

Arch Capital Group said its 2010 fourth-quarter net income dropped 20 percent compared to the same period in 2009 in part due to December flooding in Australia.

The insurance industry is applauding the introduction of a bill that could corral costs related to fraud and abuse of New York’s no-fault automobile insurance system.

The Obama administration’s budget proposal has reopened the debate over taxing certain reinsurance premiums ceded to foreign insurers by their U.S. affiliates.

The Captive Insurance Companies Association announced that Michael R. Mead has been named recipient of the CICA 2011 Distinguished Service Award—the highest award in the captive insurance industry.

A number of issues, including regulation, medical and insurer costs are high on the radar this year for workers’ compensation experts, one who warned that buyers most likely will be looking at price hikes in 2012.

As the soft market slowly comes to an end, the high rate of survival for risk retention groups bodes well for the RRG marketplace.