News

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American International Group's financial problems should not be a factor in a decision whether to establish optional or mandatory federal chartering of insurance companies, congressional staff were advised at a briefing.

While the general insurance sector has escaped the global financial crisis relatively intact, remaining obstacles will need to be carefully managed in the coming year, according to a new report by Willis Group Holdings.

Excess and surplus lines insurance executives at a meeting here expressed worries that pending federal legislation for their sector could be a precursor to U.S. regulation for all insurance activity.

The Council of Insurance Agents & Brokers at its annual meeting in Colorado Springs, Colo., elected Wade Reece CIAB chairman for 2010, succeeding Markham McKnight.

Reinsurance broker Willis Re in New York announced it has made a series of chief executive appointments and other management changes as part of a new organizational structure.