News

Arthur J. Gallagher & Co. said it has acquired the Portland, Maine, and Cranston, R.I., operations of wholesale broker Gresham & Associates Inc., headquartered in Atlanta, Ga. Financial terms were not released.

White Mountains Insurance Group, Ltd., said it is reorganizing its reinsurance business, news that appeared not to dramatically affect the rating of the overall company as it also reported improved second-quarter financial results.

American International Group's property and casualty business gained further distance from its beleaguered parent with the creation of a special-purpose vehicle and a second brand name change--to Chartis.

If single-payer in other countries is so horrific, why haven't voters revolted and demanded a return to private health insurance, wonders NU Editor In Chief Sam Friedman in his blog today at www.NUSamSoapBox.com.

Even if the provisions in health care reform legislation that concern the insurance industry and risk managers the most are passed, they would not go into effect for four years, until 2013.

The federal government should help regulate the insurance industry, a consumer group representative and a law professor urged a U.S. Senate panel last week.