News

Reinsurance demand remains stifled because primary insurers have tighter reinsurance budgets and lower volumes due to reduced economic activity--and this is not expected to change due to catastrophe model revisions, according to Moody's.

Keefe, Bruyette & Woods expects weakening returns on equity and continued soft pricing for the property and casualty industry, but a hard market could emerge sooner than many anticipate.

The PIA believes the decision on federal oversight of the insurance industry should be given to a nonpartisan entity, such as the Government Accountability Office, while the AIA argues such a decision should be left with the Federal Insurance Office.

The New York attorney general has withdrawn charges against two Marsh executives who recently won an appeal of their conviction on felony monopoly charges for accepting contingent commission kickbacks.

Cargo theft in the United States is on the rise, according to FreightWatch International, with food and drinks surpassing electronics as the most popular target of thieves.

The House vote to repeal the health care reform law enacted in April was mostly “symbolic,” but it sets the stage for continuing efforts by Republicans to keep the health care reform debate before the public eye.