With its chief executive calling the current business climate the most difficult since the Great Depression, Arthur J. Gallagher (AJG) reported flat net income for the 2010 second quarter and another quarter of organic growth decline.
Insurance Technologies, a provider of point-of-sale management software for the financial services and brokerage industries, announces the general availability of its electronic application system, FireLight.
Fire officials expect to have control over two major wildfires burning in California by the end of this week, but neither incident should amount to catastrophe claims, an insurance association representative said.
Willis Group Holdings reported a 2 percent increase in 2010 second quarter net income as it increased organic growth by 4 percent despite the headwinds of a soft market and continued challenges from the economic downturn.
Bermuda-based reinsurer, Everest Re Group Ltd. reported a 42.5 percent drop in 2010 second quarter net income, while also announcing that Chief Executive Officer Joseph V. Taranto will retire as of Dec. 31.
The majority of the American public is not overly supportive of legislation allowing policyholders to file first-party bad-faith lawsuits, the Insurance Research Council (IRC) said in a new report.
As Rep. Gene Taylor, D-Miss., continues to lobby the House for his bill adding wind to the National Flood Insurance Program (NFIP), another bill in the Senate seeks a compromise to settle the "wind vs. water" issue.