E&S/Specialty

Specialty insurer Torus said today its parent, First Reserve Corp., has agreed to merge it with the business of its other major insurance investment vehicle, Sideris Re--a firm in which Maurice Greenberg holds an interest.

The property and casualty insurance industry is expected to see an underwriting loss this year, with no let-up in the soft market through 2010 barring a substantial market shift, according to Fitch Ratings.

When David Letterman recently revealed that he had engaged in sexual relations with members of his staff, it was at once funny--with his deadpan delivery--and yet disturbing to the live audience and the viewing public.

Last month's $16.5 million settlement in an employee benefits plan case may open the floodgates to suits alleging excessive 401(k) fees, and fiduciary liability suits related to Ponzi schemes are poised to climb as well.

Crime insurance and fidelity bonds provide only limited protection to financial institutions and other insureds seeking to recover losses from fraudulent operations like mortgage scams and Ponzi schemes, experts said here.

At Crump Property & Casualty Insurance, business volume for 2009 will likely come in even with 2008, according to President John Jennings.