News

Insurance software and service provider Vertafore, said it has launched the AMS360 version 4.0 management system with advancements to simplify marketing and sales tasks for more than 2,800 agencies currently using the product.

Raleigh, N.C.-based insurance brokerage BB&T Insurance Services said it has acquired Oswald Trippe and Co. Inc. (OTC) of Fort Myers, Fla., expanding its southwest Florida operation. Financial terms were not released.

The authority of federal regulators to oversee and liquidate troubled large insurance companies should be significantly pared back in legislation Congress is considering, insurance interests are arguing.

The chief executive officer of the Property Casualty Insurers Association of America warned his members last week to beware of a "divide and conquer" strategy in Washington when it comes to nailing down regulatory and health care reform.

Florida CFO Alex Sink urged carriers at an industry conference last week to consider entering her state's huge, hurricane-prone homeowners insurance market, pledging to work together with them to craft a less hostile regulatory environment.

American International Group was highly critical of a special master's decision to slash payments for its top employees by 91 percent for the remainder of the year.