News and information for property & casualty insurance agents and brokers on how to manage their agency, including agency marketing, prospecting, developing carrier relationships, claims handling, serving clients, and much more.
The soft market remains firmly entrenched on the casualty side of the reinsurance business. But the property and catastrophe marketplace is a much different—and more unsettled—story.
In mid-June Allied World Assurance Co. Holdings AG and Transatlantic Holdings Inc. announced a $3.2 billion merger deal, creating a global specialty insurer and reinsurer operating in 18 countries and on six continents.
For U.S. coastal property business, "the market's capital has felt 'three Katrinas,'" according to experts at a reinsurance broker, which previously speculated it would take three Katrina-sized events to push up reinsurance prices.
Chief executives from seven of the most active insurance brokerage acquisition firms say they see a bright future ahead for the insurance industry, as clients rely more and more on their expertise in risk transfer and employee benefits in an increasingly complex environment.
Two ex-Marsh executives are accusing their former employer of making them "scapegoats" to avoid criminal prosecution by colluding with the New York attorney general to have the two indicted over allegations they engaged in an improper kickback scheme.
As a wholesale broker, you had absolutely no direct engagement with the retail agents customer. No calls, no letters, no emails. So why is he suing you?