News

Two Allstate subsidiaries in Florida are asking regulators to approve 33 percent and 18 percent average statewide rate increases for homeowners insurance based on the fact that loss expenses are exceeding premiums, Allstate said.

Global reinsurer PartnerRe Ltd. in Pembroke, Bermuda, announced that Emmanuel Clarke has been named chief executive officer of PartnerRe Global, replacing Costas Miranthis.

New York agent associations are taking steps to inform their members about the state Insurance Department's new regulation on producer compensation disclosure, developing online programs and overviews in anticipation of the new rule.

Aon Corp. said it will acquire human resource and outsourcing consulting firm Hewitt Associates Inc. for approximately $4.9 billion in a combination stock and cash transaction.

Premium pricing continued to show downward pressure for the first quarter of 2010 for commercial and large accounts, according to a report released by insurance broker Aon.

The House leadership is hoping to process as early as Wednesday, legislation that would provide certainty to the National Flood Insurance Program.