News

As social networks continue to grow in usage, insurers should take advantage of the services to advertise and communicate with customers in ways not available through other channels, a consulting firm advised.

Sen. Ben Nelson, D-Neb., said he is withholding support of financial services regulation because he fears it could unnecessarily regulate insurers.

American International Group said it has arranged to sell off 53 aircraft from its airplane leasing unit to an Australian banking and investment firm subsidiary for $1.987 billion.

Volcanic activity in southern Iceland has disrupted air transport networks across northwest Europe, but has not caused property damage or casualties in Iceland, according to reports.

Weather events and new compliance rules will have a negative impact on title insurers' first quarter results, but that impact should not materially affect the industry, according to a Keefe, Bruyette & Woods analyst.

Aon insurance brokerage said Michael Bungert, chief executive officer of Americas for Aon Benfield, and Dominic Christian, chief executive officer, international for Aon Benfield, will serve as co-CEOs of Aon Benfield reinsurance brokerage.

The U.S. property and casualty industry showed signs of economic recovery in 2009, but profitability remained substantially off from what it experienced just prior to the economic meltdown, a report said.

With credit scoring approaches to underwriting and pricing increasingly coming under attack across the nation, insurers need to supplement their techniques with new types of analysis, two actuaries said at a seminar.