News

The Reinsurance Association of America has named Pierre Ozendo, chief executive officer of Swiss Re America, as its board chairman.

Anxiety is growing within the agent and broker community about rules in New York going into effect in January 2011, requiring them to disclose to their clients information about compensation received from insurers.

In his role as Vice President for OneBeacon Professional Insurance, David Molitano manages four distinct lines of business: technology, media, network security, and miscellaneous professional liability.

The sinking of the Deepwater Horizon drill rig in the Gulf of Mexico will create a $52.8 million (EUR40 million) loss for German reinsurer Hannover Re, the firm said last week.

Contingent commissions are either a serious conflict of interest that clouds the insurance buying decision, or they can act as leverage in the carrier-client relationship, according to the conflicting views of two brokers presented here.

A federal judge in Louisiana has awarded $164,049.64 to a family whose home was affected by Chinese drywall.