News

Grange Insurance said Robert V. James, 55, formerly of Bank of America, has been named president and chief executive officer.

Lapse of the estate tax as of Jan. 1 has many insurance agencies concerned with inheritance issues, according to one major producer association.

While the Market Barometer composite rate index for property and casualty insurance was down 4 percent at the close of calendar-year 2009, an upswing is predicted by the end of this year.

Reinsurers recapitalized significantly in 2009, but while pricing was down for the latest Jan. 1 renewal season as a result, underwriting remained disciplined in a softening market characterized by one top broker as "orderly."

Sen. Chris Dodd, D-Conn., and Sen. Byron Dorgan, D-N.D., both key allies of the insurance industry in Congress, announced they will leave the Senate at the end of their terms.

Insurers that delayed their reinsurance purchases didn't get any notable late-December bargains from disciplined reinsurance underwriters, but soft pricing trends continued for Jan. 1 renewals.