Workers' Comp

Financial impairments at 11 property and casualty insurance companies were severe enough to trigger regulatory action last year, but none of the problems were the direct result of catastrophe losses, A.M. Best reports.

One issue of concern to both agents and customers is the future of the National Flood Insurance Program (NFIP)—still a subject of debate in Congress.

If Republicans were in search of a friendly venue for their message of spending cuts and regulation reduction, they found a warm embrace a few short blocks from Capitol Hill at the recent meeting of the Independent Insurance Agents & Brokers of America in Washington D.C.

On the final day of the conference, agents met to hear a panel discussion with three insurance-industry CEOs and the president of the Insurance Information Institute on the state of the industry.

California Insurance Commissioner Dave Jones has placed specialty workers’ compensation insurer Majestic Insurance Company into conservation by order of the San Francisco Superior Court.

It may have seemed like horrible timing when Susan Rivera was starting up a program business-focused MGA in late 2009, but there were several advantages to launching in the wake of a global financial crisis and about six years into a soft property and casualty insurance market, she says.