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The Swett & Crawford Group, Inc., a leading wholesale insurance intermediary, announced today that it has acquired Risk Reducers, LLC, a wholesale insurance broker specializing in workers’ compensation. Based in Little Rock, Arkansas, Risk Reducers is a leading wholesale brokerage firm that writes workers’ compensation and specialized property and casualty insurance for the transportation, manufacturing… Continue reading Swett & Crawford Buys Risk Reducers

Renewal of the National Flood Insurance Program (NFIP) is among the leading federal legislative priorities in 2008 for the Property Casualty Insurers Association of America (PCI). PCI also will work to pass surplus lines and building codes legislation and to closely monitor developments on a variety of other natural catastrophe bills. Additionally, the association will… Continue reading Renewal of NFIP Tops PCI’s Agenda for 2008

The U.S. Federal Trade Commission has cleared the way for activist billionaire investor Nelson Peltz and his companies for to buy shares of insurance broker Marsh & McLennan Cos Inc. Shares of Marsh & McLennan, which recently dismissed its chief executive, represent a new acquisition for Peltz. He is known for taking stakes in companies… Continue reading Peltz Gets Clearance by FTC to Buy Marsh Shares

Guy Carpenter, Marsh & McLennan Cos Inc.’s reinsurance unit, stated on Wednesday that the cost of reinsurance has fallen after another relatively disaster-free year has likely led to large profits and increased pressure to cut prices.     Prices have fallen across the board in the important Jan. 1 renewals, when many major insurers renegotiate… Continue reading Reinsurance Prices Drop Due to Lack of Storms in ’07

RTW, Inc. (RTW), a wholly-owned subsidiary of Rockhill Holding Company and a leading provider of products and services to manage insured and self-insured workers’ compensation, disability and absence programs, today reported that A.M. Best Co. (Best), Oldwick, New Jersey, upgraded the financial strength ratings of American Compensation Insurance Company (ACIC) and Bloomington Compensation Insurance Company… Continue reading A.M. Best Increases the Ratings of RTW’s Insurance subsidiaries to A-

President Bush over the holiday weekend signed legislation that extends a popular children’s health insurance program after twice beating back attempts to expand it. Previously Bush had vetoed bills that would have broadened coverage to more children. The extension of the State Children’s Health Insurance Program is expected to provide states with enough money to… Continue reading Bush Signed Child Health Program Over Holiday Weekend

C. Roy Bridges, Regional Executive Vice President of Brown & Brown, Inc. and Gary Turner, President of Turner & Associates Insurance Agency, Inc., of Tecumseh, Oklahoma, today announced the asset acquisition of Turner & Associates Insurance Agency, Inc. by a subsidiary of Brown & Brown, Inc.     “We are quite pleased to have Gary… Continue reading Brown & Brown Acquires Turner & Associates

According to a court filing, Berkshire Hathaway Inc Chairman Warren Buffett may not be called by prosecutors as a witness in a criminal trial of former officers of its General Re Corp reinsurance unit. Opening arguments are scheduled to begin on January 7 in the trial of four former General Re officers — including one-time… Continue reading Buffett May Not Be Called to Testify in Gen Re Trial

A new analysis by the U.S. Government Accountability Office (GAO) reported that the federal government provided roughly $26 billion to renters and homeowners who lacked adequate insurance to recover from hurricanes Katrina, Rita and Wilma. According to the federal findings, aid to the uninsured and underinsured represents between 25% and 33% of all federal emergency… Continue reading GAO Reports Disaster Funding Found its Way to Uninsured and Underinsured

Based on financial results through the third quarter, the U.S. property/casualty industry is expected to post an underwriting profit for 2007 — marking only the third time this has happened since 1978, according to a new A.M. Best Co. special report, “U.S. Property/Casualty 9-Month Financial Review.” However, there is concern that the sustainability of solid… Continue reading P/C Insurers Expected to Realize 2007 Underwriting Profit, ”Modest Decline” Ahead