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The BP oil spill disaster exposed serious shortcomings in both technology and regulation, but the biggest culprit is a catastrophic failure of enterprise risk management.

In a reversal from four years ago, agents and brokers cited price as the main driver when deciding where to place personal lines business in 2010, eclipsing "ease of doing business," the latest AUGIE survey revealed.

Officials with AAMGA expressed confidence that few changes would be made in the surplus lines elements of financial services regulatory reform as the House and Senate work out differences in their respective bills.

Businesses often overlook the need to buy extra or excess liability insurance limits, but these prudent coverage purchases are an essential safeguard, protecting against asset depletion from unforeseen risks.

Analysts raised red flags about the long-term prospects for American International Group at a congressional hearing last week.

The Institutes have introduced a set of ethical guidelines designed to assist all insurance professionals, based on the Code applicable to all CPCUs and those seeking the CPCU designation.

With an historic financial services regulatory reform bill about to enter the home stretch on Capitol Hill, insurance industry groups will keep lobbying to craft an acceptable compromise in reconciling the House and Senate versions.

With the European economy being rocked by fears that the Greek debt crisis will spread to other countries, the euro falling in value and the strength of the U.S. recovery uncertain, the European insurance industry recognizes it is navigating stormy seas.