News

Chicago-based insurance broker Hub International Ltd. said that its wholesale insurance broker in Canada, Totten Insurance Group Inc., has acquired Norac Intermediaries. Financial terms were not released.

Despite continued increases in loss costs, the private passenger auto insurance industry should continue to remain profitable, benefiting from the weak economy, a financial analyst said.

Avizent, a Columbus, Ohio-based claims and risk management provider, announced the opening of a new regional office in Albany, N.Y. today.

The UK Financial Services Authority announced today that a tribunal has upheld its decision prohibiting the former chief executive at a General Reinsurance Group unit from working in financial services.

Two Bermuda insurers continued their fight to acquire IPC Holdings Inc. with a letter from Validus Holdings Ltd. saying the Max Capital Group Ltd. overstated the financial benefit IPC shareholders would receive by accepting its offer.

The G-20 meeting generated a number of proposals that if implemented would have a strong benefit for U.S. insurers, according to officials at an industry trade group.