News

Most organizations wishing to appoint a new CEO fare better promoting someone from inside the company--except for the insurance industry, in some cases--according to a new study from Rice University's Jones Graduate School of Business.

Two major insurance brokers said they will pay quarterly dividends to shareholders.

Willis North America, a unit of Willis Group Holdings, said it has named Alastair Swift chief placement officer. He will report to Don Bailey, chairman and chief executive officer of Willis North America (WNA), relocating from London to New York.

Proposed cuts for the U.S. Agriculture Department's subsidy to the crop insurance program are excessive and will likely lead to more consolidation in a shrinking private crop insurance industry, an insurers' representative told the agency.

Nevada's Insurance Commissioner Scott Kipper said he has approved an average decrease of 7.6 percent for workers' compensation insurance rates.

Insured losses from the earthquake in Haiti are likely to be small, as insurance penetration there is far below 1 percent, according to a Munich Re expert addressing a webinar.