News

Property-casualty insurance rate decreases were one point less in March than the previous month, according to tracking by an electronic insurance exchange.

Marsh said today it has appointed Julie S. Boucher as leader of the firm's U.S. Captive Solutions Practice, which currently manages nearly 350 captive insurance companies in seven U.S. domiciles and has 114 employees.

The quake that struck near L'Acquila, Italy killing more than 200 persons and demolishing thousands of buildings is unlikely to inflict a major insurance loss, according to figures from one expert.

A spokesman for the Florida Office of Insurance Regulation said that many insurers have expressed interested in providing coverage for policyholders with suspended home insurer Coral Insurance Co.

An insurance executives' think tank, in advance of the London G-20 meeting last week, wrote to finance leaders advising them that any regulatory moves to fix the economic crisis should recognize the difference between banks and insurers.

Loss-battered Swiss Re announced last week that it has named a new chief operating officer and that it plans to trim more than 1,000 jobs from its global workforce and close some offices.