Commercial Lines

Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurers restructuring and accusations the banks fraudulently secured insurance coverage.

Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurers restructuring and accusations the banks fraudulently secured insurance coverage.

Insurance brokers Aon and Marsh & McLennan Companies and seven insurers joined a group of 190 companies with a perfect 100 score on this year's Human Rights Campaign Foundations Corporate Equality Index.

Insurers look set to absorb natural catastrophe claims of over $100 billion in 2011, more than double the total for 2010, making it the second most costly natural disaster year on record, reinsurer Swiss Re said.

For the second straight quarter, all standard commercial lines showed an increase in pricing, but it isnt enough to keep up with loss costs.

For the second straight quarter, all standard commercial lines showed an increase in pricing, but it isnt enough to keep up with loss costs.