A $1.8 million watch owned by record producer and rapper Timbaland hasnt been seen since his 2-year-old daughter played with it. And he wants a subsidiary of AIG to compensate him for the loss.

Itasca, Ill.-based insurance-broker Arthur J. Gallagher says fourth-quarter net income dropped 17 percent as expenses increased primarily in compensation and operations.

As markets grow in developing countries and losses escalate, insurers will have to reassess risks and likely consolidate to meet the rising demand for coverages and limits, an industry executive says.

Agents discuss life circumstances that led them to insurance careers and reveal their mantras for success.

Less than a week after he denied a request from State Farm to implement a regional storm deductible plan, Louisiana Insurance Commissioner Jim Donelon shot down an application from the insurer to raise homeowners insurance rates 16.6 percent.

Less than a week after he denied a request from State Farm to implement a regional storm deductible plan, Louisiana Insurance Commissioner Jim Donelon shot down an application from the insurer to raise homeowners insurance rates 16.6 percent.

A U.S. judge has accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay $4.0 billion in penalties for the worst offshore oil spill in U.S. history, a court official said on Tuesday.

A U.S. judge has accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay $4.0 billion in penalties for the worst offshore oil spill in U.S. history, a court official said on Tuesday.