Direct sales to consumers of personal-lines products has been a major Auto and Homeowners insurance distribution platform for years, keeping the heat on independent agents and brokers to prove their added value if they want to retain market share. However, a day of reckoning on small-commercial business could be looming...
In personal-lines insurance, particularly in the highly commoditized world of Personal Auto, carriers offering direct-to-consumer sales via the Web have achieved what the Independent Insurance Agents & Brokers of America (IIABA) characterizes as unmistakable success.
In the wake of Barclays Bank admitting to manipulating Libor (the London Interbank Offered Rate, used by banks to set the interest rate they charge when borrowing from one another), other financial institutions are now on notice over their involvement. Some banks artificially inflated or deflated their rates, depending on...
While insurers and non-insurers cite consolidation and strengthening competitive position as the reason for mergers and acquisitions, insurers say they are more successful in carrying out this objective, according to a survey from Towers Watson.
Recent court rulings confirm that agents and brokers do not owe duties to insureds to provide complete coverage for liability and property damage. Their obligations typically stop at providing only coverage that has been specifically requested.
Janes will primarily focus on public, pre-IPO and complex private companies as USI Southwest's director the management and professional services division.
Based in London, Mr. Tracey will be responsible for developing and executing a strategy to expand Willis' existing capabilities for professional services firms while providing internationally coordina