Commercial Lines

State Farm says its after-tax 2012 net income grew to $3.2 billion, compared to $0.8 billion in 2011, due primarily to improved underwriting results.

State Farm says its after-tax 2012 net income grew to $3.2 billion, compared to $0.8 billion in 2011, due primarily to improved underwriting results.

New Yorks top insurance regulator said during a state Assembly hearing that Superstorm Sandy has highlighted the need for uniformity and clarity in property-insurance policies. He also vowed to examine anti-concurrent causation clauses.

Each year in the U.S., 1,200 tornadoes on average kill 60 people, injure 1,500, and cause roughly $400 million in damages, putting long-term average tornado losses on par with hurricanes, according to a new report by Lloyds of London.

American International Group Inc. reports a fourth-quarter net loss of $4 billion on losses related to Superstorm Sandy and the sale of an aircraft leasing unit.

American International Group Inc. reports a fourth-quarter net loss of $4 billion on losses related to Superstorm Sandy and the sale of an aircraft leasing unit.