News

Willis Group Holdings said its fourth quarter net income rose 20 percent based on new business and strong retentions, but its chief executive said modest growth is not acceptable and the firm is pushing a plan aimed at strengthening growth in the future.

Willis Group Holdings said its fourth quarter net income rose 20 percent based on new business and strong retentions, but its chief executive said modest growth is not acceptable and the firm is pushing a plan aimed at strengthening growth in the future.

To stay profitable yet competitive, insurance carriers need to spot and respond to new trends that impact rating, classification and underwriting.

An uptick in Allstate Corp.’s bodily injury claim frequency in auto insurance can largely be attributed to personal injury protection (PIP), no-fault laws in New York and Florida, but that alone did not drive a drop in fourth quarter profit for the insurer.

Robert Norberg installed as president of Independent Insurance Agents of Palm Beach County, Fla.

Trade groups representing the life, property and casualty, and reinsurance industries are asking the Treasury Department to defer indefinitely federal oversight of institutions deemed systemically risky.