Willis facility will back London specialty risk business

By: Matt Dunning

Published May 23, 2013 - 10:37am CST

Willis Group Holdings P.L.C. is preparing to introduce a new facility to provide additional capacity for up to 20% of the brokerage’s London-based specialty risk portfolio.

Marsh buys Aon's representative brokerage in Peru

By: Gavin Souter

Published May 23, 2013 - 10:23am CST

Marsh Inc. has agreed to buy Peruvian brokerage Rehder y Asociados Group, which currently has a representative brokerage relationship with Aon P.L.C.

National Association of Surety Bond Producers names president

Published May 22, 2013 - 4:29pm CST

The National Association of Surety Bond Producers has named Lawrence F. McMahon president for 2013-2014.

Hub Northwest acquires Advantage Insurance Services

Published May 22, 2013 - 3:40pm CST

Chicago-based insurance brokerage Hub International Ltd. said on Tuesday that its subsidiary Hub International Northwest L.L.C. (Hub Northwest) has acquired the property/casualty book of business of Kirkland, Wash.-based Advantage Insurance Services Inc.

Willis North America launches private health insurance exchange

By: Matt Dunning

Published May 22, 2013 - 3:14pm CST

Willis North America, a unit of Willis Group Holdings P.L.C., on Wednesday announced the launch of its private medical and voluntary benefits exchange.

Insurers in Europe may up risks in managing solvency ratio volatility

By: Bill Kenealy

Published May 22, 2013 - 2:25pm CST

Insurers’ efforts to manage volatility in their solvency ratios to comply with Europe’s pending Solvency II regime may instead introduce new risks, Moody’s Investors Services Inc. said in a report released Wednesday.

Mixed reaction to bills disallowing deductions for non-U.S. reinsurance

By: Bill Kenealy

Published May 22, 2013 - 12:45pm CST

The reintroduction of legislation that would alter the tax treatment of insurers that utilize foreign-domiciled reinsurance affiliates is drawing a mix of praise and condemnation from insurers and risk managers.

All employees, suppliers responsible for managing cyber threats: Panel

By: Sarah Veysey

Published May 22, 2013 - 10:16am CST

BRIGHTON, England — Everyone in a company and people throughout the supply chain are responsible for managing cyber threats, panelists said Wednesday at a Marsh Inc. conference.

Large losses expected in Oklahoma tornado; market impact limited

By: Mike Tsikoudakis

Published May 21, 2013 - 2:55pm CST

As rescuers searched for survivors in tornado-ravaged Moore, Okla., insurance industry experts said they expect Monday's massive tornado to result in large insured losses.

Brown & Brown buys Beecher Carlson for $336.5 million

By: Bill Kenealy

Published May 21, 2013 - 2:13pm CST

Brown & Brown Inc. has acquired rival Beecher Carlson Holdings Inc. for approximately $336.5 million in net consideration, the brokerage announced Tuesday.

Gene Eisenmann, founder of Colemont, dies

By: Judy Greenwald

Published May 21, 2013 - 1:56pm CST

Colemont Insurance Brokers founder Gene Eisenmann has died after a lengthy illness, said Keating Group Inc., where he served most recently as consultant and vice chairman.

Colleges win Foundation for Agency Management Excellence awards

Published May 21, 2013 - 11:15am CST

The Council of Insurance Agents & Brokers has selected the winners of a student competition sponsored by its charitable foundation, the Foundation for Agency Management Excellence.

Tools help insurers examine uncertainties in modeling catastrophes

By: Bill Kenealy

Published May 21, 2013 - 11:04am CST

Impact Forecasting, the catastrophe modeling arm of London-based reinsurance intermediary Aon Benfield, said Tuesday that tools have been added to help insurers and reinsurers evaluate loss estimates from catastrophe models.

Property insurance pricing stable after Superstorm Sandy: Marsh analysis

By: Bill Kenealy

Published May 20, 2013 - 1:05pm CST

Superstorm Sandy's effect on property insurance pricing was muted in the first quarter of 2013, but underwriters are scrutinizing storm and flood risks more closely, according to a study by Marsh Inc.

Travelers secures another $300M in Long Point Re catastrophe bond

By: Bill Kenealy

Published May 20, 2013 - 12:03pm CST

The Travelers Cos. Inc. secured an additional placement of $300 million to its existing catastrophe bond shelf program, Long Point Re III Ltd., the insurer said Monday.

Marsh offers D&O coverage for international organizations

By: Anna Gaynor

Published May 20, 2013 - 11:41am CST

Marsh Inc. has launched a directors and officers liability insurance program for international organizations.

Business Insurance 2013 40 Under 40 nomination deadline approaching

Published May 19, 2013 - 6:00am CST

The deadline is fast approaching for the first round of nominations for the 2013 Business Insurance 40 Under 40 Regional Broker Leaders Awards.

Q&A: Daniel S. Glaser, Marsh & McLennan Cos. Inc.

Published May 19, 2013 - 6:00am CST

Daniel S. Glaser has been president and CEO of Marsh & McLennan Cos. Inc. since January. Prior to his promotion he held several senior management positions at MMC and its brokerage unit. He recently spoke with Business Insurance Senior Editor Roberto Ceniceros about interest rates and potential business risks.

Asian insurers offering significant capacity for global property risks

By: Bill Kenealy

Published May 17, 2013 - 3:46pm CST

Asian insurers, including several based in China, are offering significant capacity for international property risks, according to brokerage executives at Marsh Inc.

$1.6 billion in new catastrophe bonds issued in first quarter: Willis

By: Rodd Zolkos

Published May 17, 2013 - 1:16pm CST

The first quarter of 2013 saw $1.6 billion in new catastrophe bond issuance through five deals, including three that closed at the beginning of the second quarter, according to a report from Willis Group Holdings P.L.C.’s Willis Capital Markets & Advisory unit.

Woodruff-Sawyer names new board chairman

By: Anna Gaynor

Published May 15, 2013 - 1:20pm CST

Woodruff-Sawyer & Co. has named Stan Loar as the chairman of the board, succeeding Doug Morton, effective immediately.

Political violence map shows 44% of countries vulnerable to terrorism: Aon

By: Sarah Veysey

Published May 15, 2013 - 6:00am CST

Forty-four percent of countries have an identifiable risk of terrorist attack, according to Aon P.L.C.'s 10th annual terrorism and political violence map.

MGA association seeks to attract more wholesale entities

By: Bill Kenealy

Published May 14, 2013 - 3:10pm CST

The American Association of Managing General Agents on Tuesday said its board has voted to expand membership to include a wider variety of wholesale insurance practitioners.

Zurich, Aon offer insurance for nonprofit long-term care facilities

By: Matt Dunning

Published May 10, 2013 - 12:43pm CST

Zurich North America announced Friday that it has partnered with Aon P.L.C. to offer a program of commercial insurance products designed specifically to meet the needs of nonprofit long-term care organizations.