Best's Review articles from December 2007

Best's Review archives from December 2007

How many?(womens go for fertilization in vitro so they need best insurance)(Editorial)
December 1, 2007... In my neighborhood in Northwest New Jersey, I live next door to triplet girls and the family across the street has twin boys. I can assure you there is nothing in the water. Multiple births are on the upswing. A Centers for Disease Control and...

Quote/unquote.(Comment)(Berkshire Hathaway Inc. and Aetna Inc. quotations)(Quotation)(Brief article)
December 1, 2007... Excerpted from BEST WEEK US./Canada and BEST WEEK Europe "We need to raise about 20% of GDP to fund the programs the American people want from the federal government. Further shifting of this requirement away from the super-rich is not the...

Correction.(Comment)(Correction notice)
December 1, 2007... In the 2007-2008 Guide to Understanding the Insurance Industry, a chart on page 17 contains errors. The chart, 2006 Combined Ratios By Line of Business, is correct as published here. The guide was delivered to subscribers along with...

Insurers begin tallying losses from wildfires.(Briefing)(Safeco Insurance Co. cheks the losses and gains of wildfire insurance)
December 1, 2007... Insurers are beginning to provide firmer numbers regarding their exposures to the spate of devastating wildfires that charred Southern California in late October. Safeco Insurance Cos., California's ninth-largest writer of homeowners...

Insurers wonder: is avian flu for the birds?(insurance companies tapped bird flu to expand it's business)
December 1, 2007... Remember bird flu? This time last year, it was said to be the next pandemic. No pandemic occurred. However, it's still out there--and it's spreading, though so far only among birds. The World Health Organization says avian flu--known...

GOP 2, democrats 2.(elections of Haley Barbour U.S. state governors )(elections of Jim Hood Attorneys general)(Brief article)
December 1, 2007... [ILLUSTRATION OMITTED] HURRICANE HALEY: Last month's election results were a mixed bag. In Mississippi, voters re-elected Republican incumbent Gov. Haley Barbour to a second term, largely based on his creditable handling of Hurricane...

Competition begins to stir in Massachusetts.(property and casualty insurance industry's share in automobile insurance sector)
December 1, 2007... A system of managed competition for auto insurance, in which insurers battle for name recognition, already is showing signs it can be beneficial to Massachusetts, according to state insurance commissioner Nonnie Burnes. Addressing the...

Climate change-windstorm link still cloudy.(Brief article)
December 1, 2007... Researchers studying climate change told the Property Casualty Association of America annual meeting in November that tremendous uncertainty still surrounds whether climate change is linked to windstorms. Scientist Roger Pielke, sitting on...

Elections fail to bring change.(100 YEARS AGO IN Best Review)(Brief article)
December 1, 2007... Following trustee elections for Mutual Life and New York Life insurance companies, Best's Review concluded that the administration tickets in both companies won. [ILLUSTRATION OMITTED] Most of the ballots were sent directly to the...

U.S. surplus lines remain solid despite soft market.(By the Numbers)(Statistical data)(Company rankings)
December 1, 2007... U.S. insurers' surplus lines maintained adequate pricing in 2006, aided by the fact that catastrophe-exposed coastal property remained a notable exception to the property/casualty market's softening rates. The findings are in A.M. Best's 2007...

Meetings.(Calendar)
December 1, 2007... Dec. 2-4 National Association of Insurance Commissioners: NAIC Winter National Meeting, Hilton Americas, Houston Phone: (816) 842-3600 Web site: www.naic.org Dec. 5 Institute of Risk Management: IRM Annual General Meeting,...

Business lawsuits decline, study finds.(Briefing)
December 1, 2007... Businesses in the United States reported a decreasing number of lawsuits filed against them in the past year, according to the latest Litigation Trends Survey conducted by international law firm Fulbright & Jaworski L.L.P. Based on...

Pirate attacks increase on world's commercial ships.(Briefing)(Brief article)
December 1, 2007... Pirate attacks against ships rose 14% in the first nine months of 2007, with much of the increase occurring along the Africa coast, according to the latest figures from the International Maritime Bureau. [ILLUSTRATION OMITTED] The IMB...

A.M. best' stock indexes: four weeks ended Nov. 8, 2007 (Dec. 31, 2004 = 1,000.00).(Briefing)(Statistical table)
December 1, 2007... A.M. Best's Stock Indexes Four Weeks Ended Nov. 8, 2007 (Dec. 31, 2004 = 1,000.00) Percent Change Index Month/ Year to Year/ AMB vs Dow ...

Cigna, Aetna amend doctor-ranking programs in N.Y.(Briefing)(New York)(Brief article)
December 1, 2007... Cigna HealthCare and Aetna Inc. have entered into agreements with New York Attorney General Andrew M. Cuomo to amend their doctor-ranking programs, which insurers use to provide health care services. [ILLUSTRATION OMITTED] Cuomo is in...

Persian gulf states look past oil, seek insurers to invest in future.(Briefing)(Brief article)
December 1, 2007... Mention the Middle East to most people and the first thing they think of is oil. Nowadays, however, a great deal of time, effort and money is being invested by countries in the region to address the issue of what's going to happen when the oil...

Reinsurers' good results aided by diversification.(Briefing)(Financial report)
December 1, 2007... As earnings season unfolds, news from some of the world's top reinsurers suggest the market is weathering investment turmoil fairly well, while underwriting trends favor strong life reinsurance and primary insurance growth over a softening...

Aon Corp.(Agent/Broker)(appointment of Christa Davies )(Brief article)
December 1, 2007... Risk manager AON CORP. has named CHRISTA DAVIES executive vice president of its global finance sector. [ILLUSTRATION OMITTED] Davies will succeed the outgoing DAVID BOLGER as the Chicago-basedcorporation's chief financial officer in...

Torchmark Corp.(Life)(appointment of Andrew W. King)(Brief article)
December 1, 2007... TORCHMARK CORP. has named ANDREW W. KING president of UNITED AMERICAN INSURANCE CO., one of the McKinney, Texas-based holding company's subsidiaries, according to a company statement. [ILLUSTRATION OMITTED] King will maintain his...

Ing Asia/Pacific.(Life)(appointment of Nirmala Menon )(Brief article)
December 1, 2007... ING ASIA/PACIFIC has appointed NIRMALA MENON chief executive of Malaysian subsidiary ING INSURANCE BERHAD. According to ING, Menon has worked for the company for the past 15 years and was previously head of the employee benefits division for...

Assicurazioni Generali S.P.A.(Life)(brief)
December 1, 2007... * Italy's ASSICURAZIONI GENERALI S.P.A. has named its first-ever chief financial officer as part of a recent update to its three-year strategic plan that also involves restructuring in its key Italian and German markets. [ILLUSTRATION...

Aon names Randy Wada Asia Pacific diversity chief.(People in Insurance)(appointment of Randy Wada at Aon Corp.)(Brief article)
December 1, 2007... Risk manager Aon Corp. has appointed Randy Wada to serve as the chief diversity officer for its Asia Pacific branch. Most recently the chief executive officer of Aon Japan, Wada, 54, also will take a seat on the corporation's global diversity...

Ace .(Property/Casualty)(appointment of Deborah Alleyne at Ace insurance)(Brief article)
December 1, 2007... The U.S. retail division of the Bermuda-based ACE insurance group has named DEBORAH ALLEYNE a senior vice president in the group's risk management wing. Alleyne will start as the senior vice president in charge of ACE RISK MANAGEMENT's...

Argo Group International Holdings Ltd.(Property/Casualty)(appointment of Sam Anderson )(Brief article)
December 1, 2007... International underwriter ARGO GROUP INTERNATIONAL HOLDINGS LTD. has named SAM ANDERSON president of ARGONAUT SPECIALTY, the Bermuda-based holding company's risk assessor for its excess and surplus lines business. [ILLUSTRATION OMITTED]...

Converium Group.(Property/Casualty)(Property and casualty insurance industry appointed a new set of executives)(Brief article)
December 1, 2007... Following its announcement of a new executive committee following the merger with CONVERIUM GROUP, French reinsurer SCOR unveiled a new set of executive appointments. YVAN BESNARD was named to head the property/casualty treaty worldwide...

Joint Hull Committee.(Property/Casualty)(appointment of Simon Stonehouse)(Brief article)
December 1, 2007... The JOINT HULL COMMITTEE, which represents marine hull insurers in the London market, has elected SIMON STONEHOUSE of BRIT INSURANCE HOLDINGS PLC as its chairman. Stonehouse, who serves as Brit's hull underwriter, succeeds PETER MCINTOSH,...

Adam Hamm.(Regulatory/Law)(appointment )(Brief article)
December 1, 2007... Fargo lawyer ADAM HAMM has been named NORTH DAKOTA's new insurance commissioner by Guy. John Hoeven. Hamm took office on Oct. 22 to fill the remainder of former Commissioner JIM POOLMAN's term, which ends in December 2008, said state...

Netherlands Central Bank.(Reinsurance/Capital Markets)(appointment of A.J. Joanne Kellermann )(Brief article)
December 1, 2007... * A.J. [JOANNE] KELLERMANN has been appointed to the governing board of the NETHERLANDS CENTRAL BANK as of Nov. 1. As a member of the governing board, Kellermann will be responsible for supervising pension funds, insurers, money transaction...

Allianz hires prominent 'future studies' academic.(People in Insurance)(appointment of Markku Wilenius)(Brief article)
December 1, 2007... Markku Wilenius, described by Allianz S.E. as "probably the world's only professor of future studies" will join the German insurer as a senior vice president on Dec. 1. Allianz said Wilenius, 45, will work within its group development...

Hiscox readies new ad blitz.(ADVERTISING)(Brief article)
December 1, 2007... International specialist insurance company HISCOX plans to launch its new TV and print advertising campaign, entitled "Certainty," in the United Kingdom in February 2008. The campaign continues Hiscox's core marketing theme of insuring...

Atlac to the rescue.(BRANDING)(Brief article)
December 1, 2007... [ILLUSTRATION OMITTED] JUST IN TIME FOR THE HOLIDAYS, AFLAC recently unveiled its newest commercial, "Rudolph & Duck." The commercial's look should be familiar to audiences: It gives a nod to the 1964 animated Christmas classic,...

State Farm Mutual Automobile Insurance Co.(SPONSORSHIP)(Brief article)
December 1, 2007... STATE FARM MUTUAL AUTOMOBILE INSURANCE CO. is the new national weekly sponsor of "Sabado Gigante" (Giant Saturday), one of Univision Network's longest running and best-rated television shows. The sponsorship includes weekly host...

Settlements for policies.(SPOTLIGHT)(Brief article)
December 1, 2007... Cielo Life Settlement, a life-settlement service provider founded in 2006, has announced it will make settlements available to holders of life insurance policies with face amounts as low as $25,000. Policies with face values of $500,000 and...

Health plan created to reduce costs.(Employee Benefits)(Brief article)
December 1, 2007... [ILLUSTRATION OMITTED] The Principal Financial Group has introduced a traditional health insurance policy with a wellness program that creates the potential for significant savings on deductibles and copayments for employees who...

Allstate expands benefit plan.(Employee Benefits)(American Heritage Life Insurance Co.)(Brief article)
December 1, 2007... Allstate Workplace Division, the marketing name for American Heritage Life Insurance Co., has added optional enhancements to its limited-benefit AHL minimedical policy. An expanded wellness benefit provides for any services delivered by a...

UL/LTC combo product approved.(Life)(Brief article)
December 1, 2007... Lincoln Financial Group's MoneyGuard Reserve, a hybrid life insurance/long-term-care product, has become the first such product to be offered in New York. The state did not allow this type of linked benefit product until November 2005, the...

Fidelity offers VA life withdrawals.(Life)(variable annuity)(Fidelity Investments Life Insurance Co. )(Brief article)
December 1, 2007... Fidelity Investments Life Insurance Co. has entered the arena of guaranteed lifetime withdrawal benefits with the introduction of its Growth and Guaranteed Income variable annuity. The product also provides investment growth potential and...

By the numbers: smoking's cost in the United States.(SNAPSHOT)(Brief article)
December 1, 2007... 45.1 million People who smoke, or 20.9% of the population 438,000 Annual deaths associated with smoking, about one in five deaths $75 billion Medical costs directly related to smoking $92 billion Lost workplace...

Rating actions.(Ratings)(Statistical data)
December 1, 2007... This edition reflects all rating actions--assignments, changes or placed under review--that occurred for life, health and property/casualty insurers domiciled in North America, as well as international insurance companies, since this section...

Baby boom: what financial impact is the uptick of multiple births having on health plans?(Multiple Gestations: Health/Employee Benefits)
December 1, 2007... [ILLUSTRATION OMITTED] In July 31, Rachelle Wilkinson of Cedar Park, Texas, delivered three girls and two boys weighing a combined 21 pounds, 7.2 ounces--thus setting (by six ounces) the American record for giving birth to the heaviest...

Bringing clarity to complexity: E-Fusion refers to the powerful implications of the electronic revolution for the insurance industry--implications that carry risks as well as opportunities.(Technology: E-Fusion 2007)
December 1, 2007... If innovation is defined by creation, then can a company be innovative by simply evolving? Consider the ballpoint pen: It has changed considerably over its decades of existence--rotating cartridges, ink refills, various point sizes,...

Marsh's auto platform speeds up the process.(Technology: E-Fusion 2007)
December 1, 2007... When automobile insurers compete, everyone wins. That's the message from global broker Marsh, which has developed a platform for personal lines insurance selling and marketing--called Global Choice Auto. That project, for which Marsh received...

Project shaves off valuable minutes.(Technology: E-Fusion 2007)(Jackson National Life Insurance Co.)
December 1, 2007... When Curian Capital LLC asked its distribution partners in 2006 what it could do to help them run their fee-based investment business, they cited help with improving efficiency, time management and keeping pace with technology. In March 2007,...

Where are they now? Past recipients show they haven't stopped growing and taking on new challenges.(E-Fusion 2007: Technology)
December 1, 2007... Company: VantisLife Insurance Co. Web site: www.vantislife.com Location: Windsor, Conn. Award: 2006 E-Fusion: Life/Health Innovation: AgentWeb is a Web-based quotation and e-application system built for financial institutions....

Finding a cover for a 'black hole'.(E-Fusion 2007: Technology)
December 1, 2007... BlueCross BlueShield of South Carolina's Superbill project is taking technology to new heights by allowing users to store their most commonly used procedures, prices and diagnoses in their profile and then file claims online by clicking...

Mapping tool helps measure risks.(E-Fusion 2007: Technology)
December 1, 2007... Benfield Inc.'s ExposureView, a Web-based mapping tool that insurers can use to view their in-force policies in relation to catastrophe events and other geographic risks, got a lot of use in the last couple of months as insurers pinpointed...

'Critical' cat models at your fingertips.(Technology: E-Fusion 2007)
December 1, 2007... Holborn Corp.'s Eye in the Sky, a Web-based management information application, gives clients immediate access to graphic, multilayered maps that show possible exposures and instant analysis of related data. About the Project: ...

The comeback: after 12 difficult years, InsWeb has become profitable and secure as a leader in he online insurance market.(Technology: Company Profile)(Company overview)
December 1, 2007... [ILLUSTRATION OMITTED] When InsWeb developed its motto "Lower your insurance costs. Not your expectations," it never imagined how much the latter part of that statement would hold true for turning the once struggling firm into a profitable...

The big squeeze: the IRS wasn't happy with the lack of supervision of many 403(b) plans, so it has imposed new regulations to make them more similar to 401(k)s.(Life: 403(b) Plans)
December 1, 2007... Tax-sheltered annuities, the kind employees of nonprofit institutions put into 403(b) plans with pretax money, have been around since 1958. They have never been as strictly regulated as their newer counterparts, 401(k) and 457 plans, and what...

Breaking away: don't let bureaucracy happen to you, writes insurance guru-turned-author Robert W. MacDonald.(Life: Executive Interview)(Interview)
December 1, 2007... [ILLUSTRATION OMITTED] Robert W. MacDonald is a well-known maverick in the insurance business. The former chairman and chief executive officer of Allianz Life of North America and of ITT Life Insurance, and the founder and chairman of...

Imprimatur: the Association of British Insurers' approval of teleunderwriting heralds a new era of acceptance of this more consistent and less costly procedure.(Life: Underwriting Insight)(Association of British Insurers)
December 1, 2007... A milestone in the evolution--more aptly said, "intelligent design"--of teleunderwriting just went down, albeit across "the pond." The pond, of course, being that (ever-rising) body of water separating Her Majesty's realm from "the...

2008 Meetings: industry professionals will have a chance to meet, discuss and maybe even argue about a wide range of topics at conventions and seminars in 2008.(Agent/Broker: Meetings)(Calendar)
December 1, 2007... ACORD: May 13-15 America's Health Insurance Plans: March 4-6, June 18-20, Sept. 21-25 American Association of Insurance Services: April 20-22 American Association of Law Libraries: July 12-15 American Association of Managing...

New risks, new coverages: insurers are creating new products to cover commercial entities' increased liability for identity theft.(Technology: Commercial Identity Theft Insurance)
December 1, 2007... Every day brings a new story about identity theft, and as the threat of data breaches continues to grow, so does the potential liability that entities can face. Unto recently, this area of liability fell between the cracks of existing...

5 steps to better legacy upgrades: when considering a software or hardware overhaul, the best advice is "easy does it.".(Technology: Legacy Systems)
December 1, 2007... So it's finally time to say goodbye to that old legacy system. That's what you keep hearing from everyone in the industry, and it's what your competitors seem to be doing, too. While you may be anxious to just get out of your current legacy...

Business enabler: technology is helping carriers assess their risk management needs, from both internal and product perspectives.(Technology: Technology Insight)
December 1, 2007... Enterprise risk management is a discipline that is much business opportunity for insurance carriers as it is an internal business requirement. By using technologies to help qualify, quantify, monitor, respond to and measure risk internally, an...

Nanotechnology presents classic case of emerging risk dilemma.(Technology: Technology Notes)
December 1, 2007... Nanotechnology, touted in some circles as the next big scientific breakthrough, presents insurers with a classic dilemma in its lack of both an underwilting record and reliable clues as to its potential dangers. This view was offered by...

The Hartford Financial Services Group Inc.(Tech Bytes)(Brief article)
December 1, 2007... The Hartford Financial Services Group Inc. is making it easier for agents to meet their construction clients' needs for contractor's equipment coverage. Agents can submit, quote and initiate policy issuance through the company's dynamic Quote...

HumanaOne.(Tech Bytes)(Brief article)
December 1, 2007... HumanaOne, the individual health insurance division of Humana Inc., is now offering insurance professionals a new, advanced online resource to assist them in marketing, selling and tracking personal health plans. Designed with input from...

Jackson National Life Insurance Co.(Tech Bytes)(Brief article)
December 1, 2007... Jackson National Life Insurance Co. launched the Living Benefits Selection Center, a Web-based sales and training tool designed to help simplify the process of selecting an optional living benefit, available for an additional charge, within...

Sea monsters: insurers don't shy away from covering oil tankers up to a quarter-mile long, even as rising oil prices increase the value of their cargo.(Property/Casualty: Marine)
December 1, 2007... [ILLUSTRATION OMITTED] Vessels longer than several football fields and able to carry enough oil to fill several hundred Olympic-size swimming pools may seem like a challenge to underwrite, but insurers have plenty of appetite for this...

Staying the course: underwriting discipline and adequate pricing still challenge marine insurers.(Property/Casualty: Marine Insurance)(Statistical table)
December 1, 2007... [ILLUSTRATION OMITTED] The international marine insurance market is gearing up for big changes in the ways it assesses and manages risk, and the level of capitalization it requires. The renewal season that gets under way during...

Land of opportunity: whether you're a seasoned agent or just starting out, inland marine's impressive growth portends well for your career.(Property/Casualty: Inland Marine)
December 1, 2007... [ILLUSTRATION OMITTED] The commercial inland marine market offers untapped potential for independent agents, creating opportunities to differentiate their agencies from competitors and, ultimately, to help grow their entire commercial...

In the red from going green? Commercial insurance carriers should develop policies and practices to support clients that are becoming more environmentally friendly.(Property/Casualty: Underwriting Insight)
December 1, 2007... You can't watch television, page through a magazine or read an annual report without learning about companies' efforts to "go green" or be more environmentally friendly. It's no longer just a lofty ideal--many companies now have tangible...

Guy Carpenter: insurers should study cargo accumulation.(Property/Casualty: Loss/Risk Management Notes)(Guy Carpenter and Company Inc.)(Brief article)
December 1, 2007... Because Japan has more ports per square mile than the United States, it is more at risk for cargo loss from natural catastrophes, according to a report by reinsurance broker Guy Carpenter & Co. Guy Carpenter, a part of the Marsh & McLennan...

Side-stepping teh 'A' word: top annuity writers use marketing icons to make consumers feel more comfortable about retirement planning.(Life: Annuities)
December 1, 2007... Leading insurers know they can take some risk out of retirement planning, but getting the public to take advantage of their products and services is the big challenge. That is why Axa Equitable Life Insurance Co. is elated with the...

The contrarian side to brand building.(Life: Annuities)(Jackson National Life Insurance Co.)
December 1, 2007... Jackson National Life Insurance Co. sold $'7.1 billion in variable annuities last year, according to NAVA, a nonprofit trade association. That's a lot more than big-name companies such as Nationwide, New York Life, MassMutual, Northwestern...

The need for speed: adopting a speed-to-market approach can help companies respond to demands for new products at a reduced cost.(Life: Selling Insight)
December 1, 2007... For a company to capture the potential offered by speed-to-market as a competitive capability requires an understanding of not only what it is, but also what value it can provide to the company. Much of how speedto-market is implemented at a...

Opening the vault: Microsoft recently joined the growing Personal Health Records field. Will insurers see that as competition to their own efforts, or the start of a beautiful friendship?(Health/Employee Benefits: Personal Health Records)
December 1, 2007... [ILLUSTRATION OMITTED] The playing field for storing and exchanging personal health information has grown even larger. In October, software giant Microsoft announced its new HealthVault Web site, designed as a digital warehouse where...

Tightening Security.(Health/Employee Benefits: Personal Health Records)(Brief article)
December 1, 2007... More than 75% of consumers fear that their personal health information is not secure, according to Forrester Research. But users of Microsoft's new health record site HealthVault needn't worD,, said Scan Nolan, chief architect for Microsoft...

The write price: value-added agency services are the key to boosting client loyalty.(Agent/Broker: Selling Insight)
December 1, 2007... In most states, agents and brokers are struggling to grow their commercial lines revenues in a very soft market. Whether quoting new or existing accounts, the price has to be the most competitive the agency can produce. But price alone is...

Stretching their reach: insurers are providing their producers with the extra skills, tools and information to cross-sell in a meaningful way.(Agent/Broker: Multiline Selling)
December 1, 2007... [ILLUSTRATION OMITTED] When the Principal Financial Group wanted to arm its distributors with stronger rationale for clients to choose its products over the competition's, it went the educational route, creating a free training program for...

Back to school.(Agent/Broker: Multiline Selling)
December 1, 2007... Since Feb. 19, the education department of the Independent Insurance Agents & Brokers of New York has been issuing a biweekly electronic newsletter, In the Classroom, that lists continuing education courses available to its estimated 8,000...

Cat bond fever: catastrophe bonds are booming as insurers and investors grow more comfortable with capital markets providing reinsurance for extreme events.(Reinsurance/Capital Markets: Catastrophe Bonds)
December 1, 2007... [ILLUSTRATION OMITTED] Catastrophe bonds are becoming a mainstream investment and risk transfer tool, and 2007 is on target to break last year's record number of transactions. [ILLUSTRATION OMITTED] As of Oct. 1, 19 transactions...

Merge ahead: U.S. insurers must prepare for the upcoming convergence of U.S. and European accounting standards.(Regulatory/Law: Accounting Standards)
December 1, 2007... The Generally Accepted Accounting Principles in the United States and the International Financial Reporting Standards are aligning their concepts, principles and rules, and U.S. insurance companies will almost certainly be impacted by any...

When there is nothing to see: surveillance of a disabled insured is not suspicious. Continuing to do so after the insured's claim is approved? Now that's suspicious.(Regulatory/Law: Legal Isight)
December 1, 2007... Video surveillance is routinely used by insurers to expose fraudulent claims. However, according to a federal appeals court, when an insurer continues its surveillance even after it has uncovered no evidence of fraud, the insurer's...

Beneficial Insurance Services LLC, a subsidiary of Beneficial Mutual Bancorp Inc., has acquired the CLA Agency Inc., the company said.(Agent/Broker)(Brief article)
December 1, 2007... BENEFICIAL INSURANCE SERVICES LLC, a subsidiary of BENEFICIAL MUTUAL BANCORP INC., has acquired the CLA AGENCY INC., the company said. Terms of the acquisition were not released.

Arthur J Gallagher & Co. is acquiring BIS Insurance Services Inc., located in Sacramento, Calif.(Agent/Broker)
December 1, 2007... ARTHUR J GALLAGHER & CO. is acquiring BIS INSURANCE SERVICES INC., located in Sacramento, Calif. Terms of the transaction were not disclosed. ARTHUR J GALLAGHER & CO. is acquiring BIS INSURANCE SERVICES INC., located in Sacramento, Calif....

Brown & Brown Inc. continues to expand, announcing the acquisition of two more companies.(Agent/Broker)
December 1, 2007... BROWN & BROWN INC. continues to expand, announcing the acquisition of two more companies. The Florida-based broker bought the property/casualty insurance brokerage business of JPMORGAN INSURANCE AGENCY INC., in Newark, Del., and has purchased...

Swiss Re.(Asia)(Swiss Reinsurance Co.)(Brief article)
December 1, 2007... SWISS RE has created a motor insurance team for Asia. Based primarily in Hong Kong, the team will aim to increase the profitability of what Swiss Re describes as a rapidly growing, high volume motor insurance sector by building risk management...

Dallas-based holding company Gainsco Inc. said it is forming Gainsco Motorsports Insurance to market third-party insurance to customers in the motor sports industry.(Auto)(Brief article)
December 1, 2007... Dallas-based holding company GAINSCO INC. said it is forming GAINSCO MOTORSPORTS INSURANCE to market third-party insurance to customers in the motor sports industry. In a statement, the company said the new marketing scheme will work...

Mapfre to acquire Commerce Group in $2.2 billion deal.(Companies)
December 1, 2007... Spanish insurer Mapfre has bought up Massachusetts-based insurer Commerce Group for $2.21 billion. Describing it as "the largest investment in the history of the group," Mapfre said that it intended to fold Commerce, the largest writer of...

In an effort to make itself more known to customers in a newly competitive market.(Auto)(Premier insurance company has changed its brand name to Travelers Inc.)(Brief article)
December 1, 2007... In an effort to make itself more known to customers in a newly competitive market, PREMIER INSURANCE COMPANY OF MASSACHUSETTS has positioned itself under the red umbrella and has changed its brand name to TRAVELERS OF MASSACHUSETrS.

Ironshore Insurance Ltd.(Commercial)(Brief article)
December 1, 2007... Specialty insurer IRONSHORE INSURANCE LTD. has the green light to write property and catastrophe insurance on an excess-and-surplus basis in Louisiana. In a statement, Ironshore said it will provide commercial property and condominium coverages...

Munich Re said it is acquiring MSP Underwriting.(Europe)(Munich Reinsurance Co.)(Brief article)
December 1, 2007... MUNICH RE said it is acquiring MSP UNDERWRITING, a United Kingdom-based company that owns Lloyd's managing agency Beaufort Underwriting Agency Ltd., and which manages the business of Lloyd's Syndicate 318. The German reinsurer did not...