Despite the downturn in the economy, the multibillion dollar global insurance brokerage business held steady, for the most part, in terms of brokerage revenues in 2008. Best’s Review’s annual Top Global Insurance Broker ranking reports Aon Corp. as the No. 1 global broker with $6.2 billion in brokerage revenues. No. 2 is Marsh Inc. with [...]
Size matters, according to a new report on the insurance brokerage market by Advisen Ltd. As a result, the frenetic pace of consolidation in the brokerage sector will be only temporarily slowed by the global economic recession.
“Large brokers enjoy certain advantages of scope and scale,” said John Molka III, the author of the report. “At [...]
Marsh, the world’s leading insurance broker and risk advisor, announced the creation of a one-of-a-kind property insurance program that can provide up to $500 million of annual capacity, in the aggregate, for windstorm losses incurred by all participating oil and gas companies operating in the Gulf of Mexico in a given policy year.
Marsh’s Cost and [...]
Arthur J. Gallagher & Co. is pleased to announce that 15 of its retail property/casualty insurance brokers have been recognized as Power Brokers(TM) by Risk & Insurance magazine in a special issue published on February 20, 2009. Honorees were selected primarily based upon the creative and innovative accomplishments they achieved with one or more clients [...]
ProspX, Inc., the leader in on-demand collaboration and automation solutions for the commercial insurance industry, announced that it has teamed with Assurex Global, which represents $28 billion in annual premium volume, to deliver Assurex Global XpertConnect™. Assurex Global is using the ProspX platform to connect brokers, agencies and carriers in over 80 countries around the [...]
To better meet the needs of employee benefit brokers and consultants, HM Insurance Group, a Highmark company, has launched its next generation HM Worksite Advantage product line, which features dedicated worksite sales specialists, redesigned products, seamless account administration, targeted enrollment techniques and membership management in a highly coordinated approach for the growing worksite marketplace.
“Employee benefit [...]
Fitch Ratings released its annual analysis of the U.S. insurance brokerage industry. Fitch’s Rating Outlook for the insurance broker industry is Stable. A Stable Outlook implies that Fitch would not expect ratings to change in the near term for the brokers in Fitch’s ratings universe.
Through the first nine months of 2008, financial results indicate [...]
Abacus Insurance Brokers, Inc., a Los Angeles-based program manager that distributes specialty insurance products online through, has enhanced its portfolio of production programs to include stunt coverage. This is the first time stunt coverage has been offered online by any program manager or insurance carrier.
The stunt option provides coverage for such stunts as fight scenes, [...]
If you are on disability, or become disabled, you may worry what will happen if your disability insurer files for bankruptcy. Now is the time to review your state’s insurance guarantee fund limits, says Frank N. Darras, the nation’s leading disability and long-term care insurance lawyer.
Contact your state Department of Insurance and ask what your [...]
40,000 local businesses and 79 working Chambers of Commerce throughout Connecticut will soon be able to offer their employees and members an extensive portfolio of life and disability products, thanks to a new program developed by Anthem Life Insurance Company (Anthem Life) and its affiliate Anthem Blue Cross and Blue Shield in Connecticut.
“Anthem Life and [...]
