News

In response to the New York insurance superintendent's inquiry into its possible illegal participation in unregulated insurance markets, Allstate has provided an affidavit that it is operating legally.

A coalition of five producer trade groups representing the life, property-casualty and health insurance industries wrote key members of Congress yesterday urging them not to rush through health care reform.

The European Parliament yesterday approved a Solvency II agreement that would take effect in 2012, providing a broad legal framework strengthening insurer capital requirements and supervision.

Over the last three months, London market insurers reported an average premium reduction of eight percent on renewal business for the commercial sector's directors and officers liability insurance , according to Willis Group Holdings.

Marsh & McLennan Companies Inc., the parent company of insurance broker Marsh and reinsurance broker Guy Carpenter said William Krivoshik has been named MMC senior vice president and chief information officer.

Catastrophe modeling firm AIR Worldwide Corporation announced here earlier this week it has added a service to modeling of industrial and energy facilities, including offshore platforms and networks to its system.