Litigation

A former employee of American International Group sued AIG's auditor, claiming PricewaterhouseCoopers was negligent in its audits of the insurer and that the AIG board should have pursued a claim against the accounting firm.

Liberty Mutual reached an agreement with two state attorneys general to pay a total of $7.5 million to settle allegations it engaged in a bid-rigging and kickback scheme with insurance brokers.

Regulatory initiatives dealing with implementation of the financial services reform law, and such old business as providing certainty to the NFIP will keep p&c insurance industry lobbyists extremely busy this year.

With the pace of economic recovery slow in mature insurance markets, property and casualty carriers have set their sights beyond the United States and Western Europe.

Allstate Insurance Company said it has added another lawsuit to its list in an attempt to recoup claims it paid to allegedly fraudulent medical professionals.

Increased regulation; a change in the soft market cycle; are insurers prepared to answer the questions in 2011 when clients and regulators come asking? Check out Mark Ruquet's thought on Editor's Corner