Losses from Hurricane Isaac will not be as severe as they were from Hurricane Gustav for Louisiana residents, says the states insurance commissioner.

Losses from Hurricane Isaac will not be as severe as they were from Hurricane Gustav for Louisiana residents, says the states insurance commissioner.

Floridas insurance department says it has approved a plan by the states Citizens Property Insurance Corp. to remove 150,000 homeowners policies to four private-sector companies.

Floridas insurance department says it has approved a plan by the states Citizens Property Insurance Corp. to remove 150,000 homeowners policies to four private-sector companies.

The difference in insurance penetration between the developed and developing world was fully illustrated in August, as the first hurricane striking the U.S. Gulf Coast since 2008 is expected to cost insurers more than two major typhoons that struck China, according to a report from Aon Benfield.

First quarter insurance brokerage fees for bank-owned brokerage firms was down close to 11 percent over the same period last year according to a report from a bank consulting firm.

Marsh & McLennan Companies, Inc. has named J. Michael Bischoff as its new chief financial officer effective immediately.

Marsh & McLennan Companies, Inc. has named J. Michael Bischoff as its new chief financial officer effective immediately.