Agency Management

Most program business insurers believe gross premium volume for their segment totals at least $20 billion, but a growing subset now has doubts that they are actually writing that much as a group, a survey reported.

With the property and casualty industry already mired in a sustained soft marketplace, the financial crisis has placed even more demands on insurance carriers to grow their top line.

The New York State Insurance Department has updated its proposed producer compensation regulation with two changes hailed as a positive development by an independent agent association.

Demand has been rising for employment practices liability (EPLI) insurance protection as layoff activity has increased employee claims, an insurance brokerage expert said.

Connecticut Attorney General Richard Blumenthal announced that The Hartford Financial Services Group, Inc. has settled reinsurance price fixing allegations for $1.3 million.

A leader of an Allstate agents group said the insurer, after converting agents to independent contractor status, is treating them like employees, prompting the producers to ask for an Internal Revenue Service probe.