News

The chief acquisition officer for Brown & Brown has left the company, replaced by a seasoned executive with more than 20 years of experience with the Daytona Beach, Fla.-based insurance brokerage firm.

Former Wisconsin Insurance Commissioner Sean Dilweg was named vice president, product executive of Madison, Wis.-based CUNA Mutual Group.

Welcome to PropertyCasualty360.com, a new site that the editors of <em>National Underwriter, Property & Casualty</em>; <em>American Agent & Broker</em>; <em>Claims</em>; <em>Tech Decisions</em>; and <em>Florida Underwriter</em> have created to serve as one distinct and vital information source for all P&C insurance professionals.

Proposed changes in U.S. accounting standards aimed at bringing them in line with those used by European firms would "radically transform" the accounting methodology used by property and casualty and life insurers.

In a note to investors, a J.P. Morgan analyst said losses to the insurance industry due to extreme flooding in Australia stand at an estimated $1 billion.

Allstate Insurance Co. filed a federal lawsuit against Countrywide Financial Corp. late last month, seeking damages related to its purchases of more than $700 million in mortgage-backed securities from the company.