News

Willis Group Holdings has appointed Scott Pickering as chief executive officer, Russia, Eastern Europe, the Middle East and South Africa.

Massachusetts Attorney General Martha Coakley has proposed new auto regulations that, she said, offer consumer protections by increasing transparency and enhancing policyholders' ability to shop effectively for coverage.

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

The National Flood Insurance Program will lapse June 1 because of congressional inaction, meaning insurance agents will not be able to provide new or renewed insurance policies under the Federal Emergency Management Agency's Write Your Own Program.

Lloyd's estimates net claims from the Deepwater Horizon explosion in the Gulf of Mexico to range between $300 and $600 million. The company added that its net claims before tax from the earthquake in Chile are about $1.4 billion.

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.