The Latest

Farmers Insurance has named Scott Stice and Joe Richardson to newly created senior officer positions.

Agencyport Software has named Jeff Costley as senior sales director.

Off-the-shelf consumer devices present conveniences for IT staffs and employees alike, but the list of potential risks they present warrants concern.

Insurance broker Willis Group Holdings announced the retirement of Grahame J. Millwater, who currently serves as president of Willis Group Holdings and chairman & CEO of Willis Global. Millwater, who joined Willis as part of its graduate program in 1985 and was appointed president of Willis Group in 2008, has served the company in many roles of increasing responsibility.

Tokio Marine Holdings Inc. (TMHD) will acquire all outstanding shares of Delphi Financial Group Inc., a financial services holding company comprised of specialty life and P&C insurance and insurance-related businesses. The transaction is for $43.875 per Class A share and $52.875 per Class B share in cash, through TMHD's wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF). In addition, Delphi shareholders will receive $1 in cash per share, pursuant to a one-time special dividend from Delphi for each share of Class A and Class B stock they own. The total transaction value is around $2.7 billion and is expected to close in the second quarter of 2012.

A call for the revision of a federal law, which allows risk retention groups (RRG) to operate nationally when licensed in a single state, has been lodged by National Risk Retention Association General Counsel Robert Myers, Jr.

Aon Corporation has agreed to pay the Department of Justice (DOJ) and Securities Exchange Commission (SEC) approximately $16.3 million as part of a settlement related to charges of foreign bribery.

Insurers are skeptical about the cloud, but new developments could lend hope to a secure future.

Priority Data has added four township mutual partners in Minnesota. In October, Priority Data launched Farm and Home quoting for North Branch Mutual. The company says it also has signed agreements with Sverdrup Mutual, Madelia-Lake Crystal Mutual, and Has San Lake Mutual to launch quoting, rating and underwriting solutions in the first quarter of 2012.

Zurich Financial Services Group named Mark Sheridan as COO for its global life insurance business, starting January 1. Sheridan will manage all aspects of global life operations, including developing and executing strategy for information technology. He will report to Kevin Hogan, CEO of global life, and to Kristof Terryn, group head of operations.