Proposed tax legislation aimed at offshore reinsurers "will distort the playing field" to the advantage of U.S. insurers and increase costs for consumers, a lobbyist for Bermuda companies said.
Nearly 44 percent of small firms are operating without a business continuity strategy in case of disaster, and almost two-thirds have never even spoken to their insurance agents about contingency planning, a survey by Travelers revealed.
Marsh & McLennan Companies Inc. is selling its risk consulting subsidiary, Kroll, to Mike Cherkasky, the former chief executive of both Kroll and MMC, in an all-cash deal valued at $1.13 billion.
The battle by congressional Democrats to limit the damage from major cuts imposed through the health care reform law to the politically popular Medicare Advantage program has started.