News

In a move said to be consistent with its current strategy, Hartford Financial Services said it is selling its third-party claims administrator to Sedgwick Claims Management Services for $278 million.

Aon Benfield has agreed to serve as placement advisor to a new sudden oil spill consortium formed to deliver larger liability limit coverage for deepwater drilling in U.S. waters, Aon and Munich Re announced.

Brian Duperreault, president and CEO, Marsh & McLennan, USA, will be the 2011 International Insurance Society (IIS) Insurance Hall of Fame inductee, the group announced.

Jim Ridling will continue to be the insurance commissioner in Alabama despite a change at the governor's office.

Chicago-based insurance broker Aon Corp. said it has acquired Ireland-based online personal insurance broker Insure.ie.

The property and casualty insurance industry suffered a 3 percent slide in third-quarter net income, causing a drop in the rate of return on surplus, but nine-month results show a robust increase of 62 percent, according to a an industry report.