Arthur J. Gallagher kicked-off the fourth-quarter earnings report season for insurance brokers saying that its net profit dropped 18 percent, primarily due to increased expenses.

In an environment of rapidly evolving risks, just anticipating risk is not enough, as organizations also need to focus on building resilience to effectively manage risk and position themselves for long-term sustainability, says the chief executive of Willis Group Holdings.

In an environment of rapidly evolving risks, just anticipating risk is not enough, as organizations also need to focus on building resilience to effectively manage risk and position themselves for long-term sustainability, says the chief executive of Willis Group Holdings.

Greenwich, Conn.-based insurer W.R. Berkley says 2011 fourth-quarter net income was down 7 percent, but its chief executive says rate increases are taking hold and 2012 should be a better year.

Satisfaction with auto claims was virtually unchanged on a quarter-to-quarter basis despite the increase in insurance claims due to weather related damage during the fourth quarter of this year, according to a consumer survey.

New Jerseys Banking and Insurance Commissioner Tom Considine will leave his post to become the chief operating officer of MagnaCare, a health plan service company in New York.

The universe of publicly held brokerage firms could expand within the next two years, with two firms that are now in the hands of private-equity interests re-entering the public sphere in the United States.

The chief executive of Daytona, Fla.-based insurance brokerage firm Brown & Brown stepped down from his post for health reasons, and his father has taken the leadership reins once again.