News

Marsh & McLennan Companies Inc. is selling its risk consulting subsidiary, Kroll, to Mike Cherkasky, the former chief executive of both Kroll and MMC, in an all-cash deal valued at $1.13 billion.

The battle by congressional Democrats to limit the damage from major cuts imposed through the health care reform law to the politically popular Medicare Advantage program has started.

Despite the urgings of Florida Insurance Commissioner Kevin McCarty and other state leaders, Gov. Charlie Crist has vetoed an omnibus property insurance bill passed at the close of the 2010 legislative session.

Expanding potential liability for employers and their employment practices insurers, the U.S. Supreme Court gave the green light to litigation involving the use of tests that have a disparate impact on a protected class.

William Berkley, who heads a group of U.S. insurers working to close what they see as a tax loophole for foreign insurers, suggested that critics are launching empty threats to thwart his coalition's efforts.

Executives of W.R. Berkley said they would not hesitate to write coverage again for the operator of the oil rig that exploded in the Gulf last month, adding that increased prices and insurance requirements for operators could provide opportunities.