News

The World Trade Center Captive insurer said it was disappointed in a federal judge's order that it pay more to those clean up workers and uniformed services personnel sickened and injured at the World Trade Center, site after the Sept. 11, 2001 attacks.

While multinational insurers struggle to establish global uniformity in regulation, disparities in systems of taxation around the world remains an unproductive factor in determining where carriers do business, industry leaders say.

Regional property & casualty insurer ACUITY has reported full-year 2009 net income of nearly $50 million, a 66 percent increase over 2008 net income of $29.4 million.

Ten large property and casualty insurers today asked leadership of the Senate Banking Committee to exempt the industry from federal oversight in financial services reform legislation that will be marked up starting Monday.

Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. said it has acquired two Voorhees, N.J.-based insurance agencies, Excel Underwriters Alliance, Inc. and Spirit Underwriters, Inc. Financial terms were not disclosed.

Mitchell Brian Storfer of Vero Beach has been stripped of his insurance licenses for participating in an annuity scheme.