News

Financial analysts say many insurers' inadequate financial reporting could hurt them by stirring uncertainty about their financial condition and business drivers, PricewaterhouseCoopers reported.

Two big challenges for the London Market this year--modernization and the European Union's new Solvency II regulations--will be closely linked and interdependent, International Underwriting Association's chief executive in London predicted.

Lewis & Clark LTC RRG, Inc., of Atlanta, a national provider of liability insurance to long-term care facilities, has merged with Sophia Palmer Nurses RRG, Inc.

Insurance software and technology service Ebix Inc. said it has acquired Sao Paulo, Brazil-based MCN Technology & Consulting (MCN) effective Jan. 15. The only financial detail released was a company statement that it was an all cash transaction.

RenaissanceRe Holdings Ltd. announced the retirement of two key executives and the promotion of Kevin J. O'Donnell to executive vice president and global chief underwriting officer.

Due in large part to the struggling economy, insurance fraud of all kinds increased in 2009, and many fraud bureau budgets and positions were cut, according to a report by the Coalition Against Insurance Fraud.