Zachary W. Carter, a member of Marsh & McLennan Companies board of directors since 2004, will resign effective Jan. 17 after New York City Mayor Bill de Blasio named Carter to become the citys corporation counsel, according to an SEC filing.

Zachary W. Carter, a member of Marsh & McLennan Companies board of directors since 2004, will resign effective Jan. 17 after New York City Mayor Bill de Blasio named Carter to become the citys corporation counsel, according to an SEC filing.

Insurers in North Carolina submitted a rate filing for a statewide average increase in homeowners rates of 25.3%, a request that drew an angry response from the states insurance commissioner.

ACP Re Ltd. will acquire 100% of the outstanding stock of Tower Group International and merge Tower with a subsidiary. AmTrust will acquire the renewal rights of Tower Groups commercial lines insurance operations, and National General Holdings Corp. will acquire the personal lines renewal rights.

A.M. Best says the P&C industry could see its first yearly underwriting profit since 2009, but commercial lines underwriting results saw some deterioration in the third quarter, and the ratings agency reiterated concerns about the industry's reserve position.

The 2014 outlook for the global P&C industry is stable thanks to expected premium growth from the economic recovery and stable-to-rising penetration rates, says Moodys Investors Service.

This past year saw the industry faced with issues both new and old. Some events were noteworthy for their general news impact, others for their direct influence on the property and casualty industry, and still others for the massive amount of interest they generated among PC360's readership.

This past year saw the industry faced with issues both new and old. Some events were noteworthy for their general news impact, others for their direct influence on the property and casualty industry, and still others for the massive amount of interest they generated among PC360's readership.