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The Wall Street Journal 09/19
Marsh, Aon and Willis are in negotiations with New York State regulators to reinstate contigent commissions, banned in 2005 due to conflict-of-interest concerns, a development that could restore significant revenue the commissions once generated but also place the insured at a disadvantage.
According to the Wall Street Journal, State regulators are conducting negotiations to revise, or even lift, the 2005 ban on "contingent commissions" as measured by revenue. Contingent commissions are paid by insurers to brokers and are based on factors such as how much business a broker brings to an insurer and how profitable it is.
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The Financial Times 04/09
Aviva, the the world’s fifth-largest insurance group, is to re-enter the Asian general insurance market in the second big move in the region this year by a British insurer.
The group announced on Friday that it planned to re-enter the general market, five years after selling its Asian general insurance business to Japan’s Mitsui Sumitomo Insurance for $450m.
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Business Insurance 09/08
It's unlikely that large mergers and acquisitions will be done by U.S. insurers this year, as there are not enough sellers looking to divest at this time, PricewaterhouseCoopers L.L.P. said in a Thursday report.
In its report, “U.S. Financial Services M&A—Analysis and Trends,” PwC said that while “behind-the-scenes” discussions were taking place, there were few natural disasters or “market-changing” events in 2009. That allowed property/casualty insurers to rebuild their balance sheets and strengthen their market position.
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AP/BusinessWeek 04/08
Florida Gov. Charlie Crist reinforced his message Wednesday to lawmakers considering legislation that would allow insurance companies to boost property insurance premiums on home and business owners.
His advice: Don't do it.
"This is the last time that people need to have property insurance go up," Crist warned. "If there is any legislation that comes to my desk that would do that I will veto it and happily do so."
Crist said he didn't think legislators would attempt to overturn it.
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