News

BB&T Corp. said its insurance operations produced record quarterly revenues despite the impact of the soft market.

There appears to be no letup in the commercial property and casualty soft market, as average premium prices deteriorated after showing some signs of stability over the past year, according to a producer association.

After several years of doing without contingent commissions, insurance broker Aon said it plans to begin accepting the bonus payments from carriers once again, drawing fire from risk managers and one of its chief competitors.

Recent concerns over public entities' credit quality is not expected to materially impact U.S. property and casualty insurers' capital position, despite the insurers' heavy investments in municipal bonds, Fitch said.

The Obama administration said it opposes legislation that would add wind coverage to the National Flood Insurance Program.

The Travelers Companies Inc. experienced a 9 percent drop in 2010 second quarter net income when compared to the same period last year as $439 million of record pre-tax catastrophe losses cut into profits.