News

A leader's ability to communicate effectively involves more than just giving instructions clearly--it also means inspiring and earning commitment from others, in part by being open to bad news, a business professor warned managing agents meeting here.

Independent agencies only have one more month to prepare for the 2010 Commercial Insurance Agency of the Year Award program, run by National Underwriter and American Agent & Broker, with entries due by July 1.

Use of real-time transaction software by independent agents jumped 30 percent over the past year, according to a survey sponsored by the Real Time/Download campaign.

In a reversal from four years ago, agents and brokers cited price as the main driver when deciding where to place personal lines business in 2010, eclipsing "ease of doing business," the latest AUGIE survey revealed.

Officials with AAMGA expressed confidence that few changes would be made in the surplus lines elements of financial services regulatory reform as the House and Senate work out differences in their respective bills.

Analysts raised red flags about the long-term prospects for American International Group at a congressional hearing last week.

With an historic financial services regulatory reform bill about to enter the home stretch on Capitol Hill, insurance industry groups will keep lobbying to craft an acceptable compromise in reconciling the House and Senate versions.

The New York Insurance Department expressed "disappointment" at the decision by two producer groups to file suit last week to stop implementation of a compensation disclosure regulation.