Industry News
Mississippi Commissioner Files Motion to Drop Flood Insurance Suit
The Mississippi Department of Insurance will drop a lawsuit filed in 2013 against the National Flood Insurance Program. The lawsuit, filed in federal court in Jackson, sought to block flood insurance ...
RSA U.K. Boss Brown Resigns, Moving to A.J. Gallagher Spot
RSA Insurance Group Plc said the head of its U.K. and western Europe business will leave the company, marking the second resignation of a senior manager since Stephen Hester was hired to revamp the ...
Producer compensation programs send clear messages about what a carrier values. Commission rates, incentive structures, bonuses, and performance thresholds direct...
FIO Seeks Comments on Auto Insurance Affordability
On April 10, the Federal Insurance Office, citing its authority under the Dodd-Frank act to monitor whether underserved communities have access to affordable insurance, posted a request for comments ...
J.D. Power, RIMS Team Up to Measure RM Satisfaction With Carriers, Brokers
J.D. Power and RIMS announced Wednesday that they have teamed up for the inaugural J.D. Power 2014 Large Business Commercial Insurance Satisfaction Study, slated to publish in November, which will ...
Willis Launches Product Contamination Insurance Exclusively for Food and Beverage Industry
Willis Group Holdings on Wednesday announced the launch of Recall Shield, a new product contamination insurance product, in partnership with XL Group. Recall Shield has been designed with the BRC ...
Lancashire Holdings Founder Richard Brindle to Retire
Lancashire Holdings Ltd. announced Wednesday that Richard Brindle, who has served as CEO of the group since he founded the business in 2005, will be retiring effective April 30. Alex Maloney, ...
BofA Settles with FGIC, Mellon Over Mortgage Securities for $950M
Bank of America Corp., the second- largest U.S. lender, said it reached a $950 million settlement tied to residential mortgage securities backed by Financial Guaranty Insurance Co. The accord ...
Casualty Actuarial Society Forms Cyber Risk Task Force
The Casualty Actuarial Society has announced the formation of the Task Force on Cyber Risk, an initiative that reflects the rapid growth of cyber risk and the pressing need to find effective means of ...