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Moody's Investors Service affirmed American International Group's (AIG) A3 long-term issuer rating and negative outlook, reflecting the rating agency's concerns about the possible end of government support for the insurer.

Moody's Investors Service affirmed American International Group's (AIG) A3 long-term issuer rating and negative outlook, reflecting the rating agency's concerns about the possible end of government support for the insurer.

Despite the damage caused from the Deepwater Horizon oil spill in the Gulf of Mexico, the event is expected to have no impact on the property insurance marketplace, an executive from Marsh said.

Premiums written by the U.S. excess and surplus lines market fell nearly 5 percent to $11.5 billion in the first-half of 2010, according to a report prepared by Highline Data exclusively for National Underwriter.

In seeking directors and officers' coverage Peter G. McDonough, general counsel for Princeton University, said he is primarily concerned with defense cost certainty. "Retention is what I really care about."

Insurance technology company Applied Systems honored nine insurance carriers for excellence in interface communications with agencies and brokerages.

Willis Programs partners with Chartis for its MetalWorkingGuard and PlasticsGuard programs.

A hurricane warning is in effect for the East Coast of the U.S. from Bogue Inlet, N.C., to the North Carolina/Virginia border as Category 3 Hurricane Earl bears down on the region.