The Reinsurance Association of America (RAA) has written to representatives of the US Congress in a bid block the implementation of a bill that would derail a new flood initiative.
Clients dislike the recent trend of M&A activity that has reduced the number of carriers, according to Berkshire Hathaway Specialty Insurance executive vice president David Bresnahan.
Insurers and reinsurers are making questionable decisions as they struggle to grow in a market that is swamped by around $100bn of excess capital, Arch Capital's chief financial officer has said.
AmWins CEO Steve DeCarlo has strongly defended wholesale brokers, arguing that they are an essential part of the insurance food chain and should not be disintermediated.
