Crime insurance and fidelity bonds provide only limited protection to financial institutions and other insureds seeking to recover losses from fraudulent operations like mortgage scams and Ponzi schemes, experts said.
A day after announcing the acquisition of a Texas agency through its Marsh & McLennan Agency subsidiary, Marsh & McLennan President and CEO Brian Duperreault said the brokerage could announce several more agencies by year end.
While a majority of large businesses have contingency plans for a pandemic or other catastrophe in place, many small to medium companies do not, which can result in their demise in the wake of a disaster, according to experts.
After years of robust M&A insurance activity, the number of deals completed in 2009 will probably cause this year's deal totals to be the lowest in several years.
They're located in Canada, Florida and a Mississippi Gulf Coast town still reeling from Hurricane Katrina. They have as few as 10 employees and as many as 250.
Stunted wages, heftier workloads and shriveling benefits are just a few of the challenges that continue to plague claim professionals, according to the 2009 Salary Survey conducted by Claims magazine.