News

The current management team's contract with the American Association of Managing General Agents has been renewed, keeping its present executive director and director of operations in place indefinitely.

Lloyd's said its estimates to-date for the net claims from the Deepwater Horizon explosion are between $300 million and $600 million and that estimates of its net claims before tax from the earthquake in Chile are about $1.4 billion.

The IIABNY and the CIBGNY jointly filed a legal action to prevent the New York Insurance Department from implementing a proposed producer compensation disclosure law.

Analysts raised red flags about the future of AIG at a congressional hearing, despite President Robert Benmosche's assurances that AIG is on a "clear path" to repaying the government.

Auto policy shopping trends between Baby Boomers and Generation Y vary widely, with only 68 percent of Generation Y citing price as a reason for shopping their policy, compared with 83 percent of Baby Boomers, a survey found.

The National Association of Insurance Commissioners said it will hold its fifth Financial Summit: 2010 Leadership Initiatives, June 2-4, at the Hyatt Regency Jacksonville Riverfront Hotel, Jacksonville, Fla.