Forty years of BI.(Business Insurance's anniversary)(Factory Insurance Association and Oil Insurance Association merger)(Marsh & McLennan Companies Inc. ranked largest broker)(Brief article)

Business Insurance, June, 2007 by Picoult, Myron

On Oct. 8, 2007, Business Insurance will celebrate its 40th anniversary of publication. Each week until then, BI will offer a peek at news we reported during the past four decades. July 14, 1975 The Factory Insurance Assn. and the Oil Insurance Assn. announced plans to merge Dec. 1 to form a new property pool known as Industrial Risk Insurers.

The FIA and OIA agreed to merge to enhance capacity and reduce the costs of providing engineering and inspection services separately. The FIA comprises 40 insurance companies, while the OIA has 46 insurers. July 28, 1975 Marsh & McLennan Cos. Inc. is the world's largest broker, based on gross revenues of $204.9 million, in BI's annual ranking. In the prior year, the company made its benefits division a separate unit...

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