News

It's time for independent agencies that do an outstanding job selling insurance and providing risk management services for their clients to prepare their entries for NU's "Commercial Insurance Agency Of The Year" award program for 2009.

The American Society of Workers Comp Professionals has presented Arthur R. Cadorine of Jersey City, N.J.-based Insurance Services Office with its Legends Award.

Insurance trade organizations said they were successful in fending off proposals to further increase assessments on carriers as part of the proposed New York State budget that state leaders agreed on over the weekend.

J. Randolph Babbitt, a partner in the aviation practice of management consulting firm Oliver Wyman, a Marsh & McLennan subsidiary, has been nominated to head the U.S. Federal Aviation Administration.

Two House Democrats last week introduced legislation that would repeal the antitrust exemption afforded insurers under the McCarran-Ferguson Act, but would retain the authority of states to regulate the industry.

Rather than just steering business to carriers that offer the lowest price or highest compensation, it turns out the closer a carrier's relationship is with its independent agents, the more auto and homeowners insurance producers will send its way.