Best's Review

Massmutual's New Chairman Sees 'Long Haul' to Us Recovery

Adding On

Aon Corp's $4.9 billion acquisition of human resources and outsourcing company Hewitt Associates not only increases the insurance broker's top line, it also puts it more in direct competition with its top rival, Marsh & McClennan Cos, observers say. With the acquisition, Aon's pro-forma business mix will shift from 83% of its revenues coming from insurance brokerage and 17% coming from consulting to 60% of revenues coming from insurance brokerage and 40% coming from consulting, according ...

Full of Promise

Climate change has the potential to alter the business world in surprising ways. Covering corporate efforts to comply with carbon regulations is a potentially major opportunity for insurers, particularly with projects to reduce or "offset" emissions. If the US adopts cap-and-trade legislation, the offset provisions allowed could have major implications for the US insurance market and create a larger and more diverse market than exists in Europe. While a cap is essential for cap-and-trade to w...

Hold On Tight

Accidents can occur in the blink of an eye. Accidents are the fifth leading cause of death in the US, according to the Centers for Disease Control and Prevention. In 2006, accidents or unintentional injuries claimed the lives of more than 121,000 Americans. So it's no accident that more people are turning to accidental death and dismemberment (AD&D) insurance to take cover. The need for the insurance speaks for itself, said Jim Gemus, VP of Prudential's group life products business. Accid...

Diagnosing Pressure Points

Medical device manufacturers, which represent one of the largest industries within the health care sector, are increasingly outsourcing component work as a way to reduce expenses and bring products to market more Increasingly, these manufacturers are outsourcing component work to reduce costs and streamline their supply chains. The global medical equipment outsourcing market is expected to grow to $40.1 billion by 2016, according to a 2010 GlobalData report. As the outsourcing trend continues...

First Mercury to Acquire Valiant Insurance

First Mercury Financial Corp, the holding company for specialty commercial insurer First Mercury Insurance Co, said it would pay about $55 million to acquire Valiant Insurance Group Inc from Bermuda reinsurer Ariel Holdings Ltd. The move opens the doors for First Mercury, an excess and surplus lines writer, to enter the admitted market, said Ted Camp, chief underwriting officer. Through May 31, 2010, Valiant had about $34 million in gross writ- ten premiums. In the 12 months following the clo...

Clarification