News

Louisiana Insurance Commissioner Jim Donelon said he has denied a request by State Farm, the state's largest home insurer, for an average 19.1 percent rate hike.

The Risk and Insurance Management Society, Inc. said New York State's final compensation disclosure regulation for agents and brokers is not stringent enough and called on officials to gather more information.

XL employees are no longer working to avoid a crisis, the Bermuda company's chief executive said, reporting a 2009 fourth-quarter net loss of $40.3 million an improvement over the $1.4 billion loss for the period in the prior year.

Insurance company and agency CEOs should follow the lead of top dogs on TV's "Undercover Boss" and see how their operations function first-hand, says NU Editor Sam Friedman, who throws down the gauntlet in his blog at www.NUSamSoapBox.com.

The insurance industry has the tools and experience to provide needed coverage when the storage of carbon emissions becomes the primary method to prevent build-up of gases in the atmosphere, according to a broker executive.

Aon Benfield said today it has joined forces with a group of leading reinsurers to promote the use of ACORD standards for increased accuracy of data and speed of processing across the global marketplace.