AIG agreed to pay $725 million to Ohio and Florida public pension plan funds in a securities class-action settlement to resolve bid-rigging allegations that the funds said had negatively impacted the company's value.

The vast majority of insurance brokers in the United Kingdom rate speed of policy issuance and underwriting decisions as key criteria in their choice of insurance partner, according to a survey conducted by Celent.

Calling Aon's decision "troublesome and ambiguous," Willis Group Holdings roundly criticized the insurance broker's decision to accept contingent commissions while having to explain its own legacy contingent commission issue.

A Government Accountability Office official contradicted a Florida Office of Insurance Regulation (OIR) official over a report that reviewed nine of the nation's residual catastrophe insurance programs.

BB&T Corp. said its insurance operations produced record quarterly revenues despite the impact of the soft market.

There appears to be no letup in the commercial property and casualty soft market, as average premium prices deteriorated after showing some signs of stability over the past year, according to a producer association.

After several years of doing without contingent commissions, insurance broker Aon said it plans to begin accepting the bonus payments from carriers once again, drawing fire from risk managers and one of its chief competitors.

A recent tech security survey for the financial services sector might give the impression that the insurance industry has awakened to the threat of cyber-risks, but one analyst warns that there remains much room for improvement.