National News

Agency Organic Growth Slowed in 2016: Reagan

Organic revenue growth among insurance agencies and brokerage firms fell in 2016 to 4.2 percent– its lowest annual rate since 2011. The year ended on a positive note, however, as fourth-quarter organic growth outpaced the 3.6 percent recorded in the …

Lloyd’s Sees Political Risk Insurance Opportunity in Trump, Brexit

Lloyd’s of London Chief Executive Officer Inga Beale said Donald Trump’s presidency and the U.K.’s planned exit from the European Union are creating opportunities to sell insurance guarding commercial clients against disruptions in global commerce. “I wouldn’t be surprised if …

Federal Reserve Chair Yellen Defends Role in International Regulation

Federal Reserve Chair Janet Yellen, in response to a warning from a U.S. congressman to halt global regulatory talks in the early stages of Donald Trump’s presidency, said in a letter the Fed has the authority and responsibility to consult …

Ex-CFO of Bankrupt Enron Offers D&O Lessons from Accounting’s ‘Gray’ Areas

Andrew Fastow, former chief financial officer (CFO) of Enron Corp., a now-defunct energy trading company swept up in a massive fraud scandal in the early 2000s, warned a room full of directors and officers (D&O) underwriters that some companies today …

Aetna, Humana Officially End Merger Deal; Won’t Appeal Court Ruling

Health insurers Aetna Inc. and Humana Inc. walked away from their $34 billion merger deal on Tuesday, after a U.S. judge ruled in January the combination would stifle competition in the private Medicare Advantage program for retirees. After the Jan. …

Greenberg Fights New York AG’s Spin on Reinsurance Saga

Almost a dozen years ago, then-New York Attorney General Eliot Spitzer filed a fraud lawsuit against former American Insurance Group Inc. CEO Maurice “Hank” Greenberg over two reinsurance transactions that purportedly gave an improper boost to the company’s financial statements. …

Automakers Want Regulatory Road Cleared for Self-Driving Vehicles

General Motors Co. and Toyota Motor Corp. officials will tell a U.S. House panel on Tuesday that automakers need changes to automotive safety rules to allow the deployment of self-driving cars on American roads. “Without changes to those regulations, it …

Insurers Find Fault With Report Over How Auto Insurers Treat No-Fault Accidents

A national consumer group has charged that innocent drivers in most states are being forced to pay more for auto insurance for accidents in which they are not at fault. The report from the Consumer Federation of America (CFA) further …

Ironshore Forms Oil & Gas Facility for Middle Market Energy Sector

Ironshore Specialty Casualty has formed Ironshore Energy Solutions, a dedicated oil & gas facility, offering liability coverages for on-shore middle market energy classes in the United States. Ironshore Insurance Services LLC, its specialty managing general agency, will deliver capacity to …

Good and Bad of Private Equity Investment in Insurance Agencies

It takes a lot of capital for an insurance agency to grow, acquire, merge or partner with another agency, and increasingly, private equity firms are stepping up to the plate to supply that funding. Although the number of reported mergers …

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