Commercial Lines

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.

Wells Fargo Insurance Services is not a minor player in the San Francisco banking giant’s sphere of business, says the brokerage firm’s chief executive, but an equal partner aiming to grow the business in part by taking advantage of the bank’s customer relationships.

New York lawmakers have sent to the governor a commercial deregulation bill that allows insurers to go to market with some policies before regulatory approval.

Heavy rains and strong winds from Hurricane Beatriz pounded resorts and beaches on Mexico's Pacific coast late Monday.

Heavy rains and strong winds from Hurricane Beatriz pounded resorts and beaches on Mexico's Pacific coast late Monday.

Multinational corporations are still enjoying the benefits of a competitive marketplace, but underwriters are taking a closer look at certain risks impacted by recent catastrophes For example, the earthquake/tsunami in Japan and floods in Australia are having an impact on certain programs, primarily catastrophe property and business interruption.

For the CEO of Crum & Forster, Doug Libby, who voluntarily describes himself as “a contrarian,” there is little not to like about the $294 million deal, closed in February, that adds First Mercury Financial Corp. to his group’s specialty-insurance operations.

The CEO of Fortegra Financial believes he has a distinct edge as he competes to acquire property and casualty wholesale brokerages and regional specialty agencies to add to his firm’s suite of insurance-service operations: Being a New York Stock Exchange-listed public company.