While the recession is putting a strain on the earnings produced by the employee benefits business of independent agents and brokers, there is a consensus among at least three top firms that the segment remains a major generator of revenue.
An agreement reached between the three major insurance brokerages and New York, Illinois and Connecticut officials opens the door for the firms to resume taking contingent commissions.
A property and casualty insurance industry initiative has been launched nationwide to increase independent insurance agencies' use of the real time system.
Insurance rates for the third quarter continued their overall decline at a slightly steeper rate than the previous quarter, according to a survey of insurance brokers.
California's insurance commissioner said he plans to sue the state over its move to sell $1 billion in assets of the State Compensation Insurance Fund, which is intended to balance the state's budget.
Some cited concerns about Benmosche's his lack of property and casualty insurance background, as well as the challenges he faces in restoring his firm's tarnished reputation.
The fatal collision between a recreational airplane and a tourist helicopter over the Hudson River should not affect rates for such planes, but could possibly impact helicopter coverage, according to two insurance brokers.
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