Commercial Lines

Market psyche change, not cat event, needed to turn the market, Marsh CEO Duperreault says, predicting one will come sooner rather than later.

Massachusetts Attorney General Martha Coakley is pressing state regulators to reject auto insurer Progressive Corp.'s plans to hike the rate for commercial customers by 23.5 percent.

Massachusetts Attorney General Martha Coakley is pressing state regulators to reject auto insurer Progressive Corp.'s plans to hike the rate for commercial customers by 23.5 percent.

Bank owned insurance brokerage firms saw brokerage fee income over the first three quarters of 2010 rise 7 percent over 2009 to a record $9.7 billion, with a property and casualty firm topping the list, according to the latest market report.

Bank owned insurance brokerage firms saw brokerage fee income over the first three quarters of 2010 rise 7 percent over 2009 to a record $9.7 billion, with a property and casualty firm topping the list, according to the latest market report.

Willis Group Holdings said its fourth quarter net income rose 20 percent based on new business and strong retentions, but its chief executive said modest growth is not acceptable and the firm is pushing a plan aimed at strengthening growth in the future.

Willis Group Holdings said its fourth quarter net income rose 20 percent based on new business and strong retentions, but its chief executive said modest growth is not acceptable and the firm is pushing a plan aimed at strengthening growth in the future.

U.S.-based multinational companies will likely benefit from an ongoing soft insurance market, as competition for a range of coverages for these companies is expected to continue through 2011, Marsh said in a recent report.