News

Wholesale brokers are in a prime position to grab new business when a revived economy begins producing start-up companies that standard line carriers won't insure, a trade group leader advised here.

Insurers should choose who will regulate them--unless they are so big and widespread that only federal oversight will do the trick, magazine publisher and former Republican presidential candidate Steve Forbes told an industry conference here.

The struggling economy will spur mergers and crimp insurer profits in the short term, but not far down the road there will be opportunities to achieve greater efficiency and profits, according to the head of LOMA, Robert Kerzner.

Allstate Corp. last week announced it would not participate in the government's Troubled Asset Relief Program, explaining that it already has adequate capital and cash on hand.

American International Group's embattled chairman and chief executive officer, Edward M. Liddy, will step down as soon as replacements can be found, with the two leadership positions to be filled by separate individuals, the company announced last week.

Atlanta-based insurance technology provider Ebix Inc. said it has acquired Facts Services Inc., headquartered in Coral Gables, Fla., in a transaction involving an upfront cash payment of $6.5 million.