Due in no small part to major flooding in Manhattans subway system, New York Citys Mass Transit Authority reports estimated Sandy-related losses of $5 billionof which private insurers should kick in more than $1 billion.

Emerging-market countries represent huge, untapped opportunities for insurers, but carriers that are not properly staffed with people who understand the cultures, histories and markets of these nations will not succeed in their efforts, said former AIG CEO Maurice Hank Greenberg during the keynote presentation of the 23rd Annual Executive Conferencean...

Rates in both commercial- and personal-lines insurance continued to increase through November, according to electronic exchange MarketScout. Rates for commercial-lines accounts increased an average of 5 percent in November compared to the same period last year, and personal lines increased 4 percent, the Dallas-based company says. (In October, commercial-lines accounts...

American International Group (AIG) estimates its total insured losses from Superstorm Sandy will come to approximately $2 billion.

After 12 years at the helm, Joe Plumeri is stepping down as the CEO of Willis Group Holdings on Jan. 7. He will serve as nonexecutive chairman through July 13, when his contract expires.

Donald Light has been in the room for hundreds of product demos as insurance software vendors try to convince carriers why the carriers should select their product. Light, director, Americas, in the property/casualty practice for the consultant and advisory firm Celent, has seen more than his fair share of disastrous...

Donald Light has been in the room for hundreds of product demos as insurance software vendors try to convince carriers why the carriers should select their product. Light, director, Americas, in the property/casualty practice for the consultant and advisory firm Celent, has seen more than his fair share of disastrous...

The Financial Stability Oversight Council is holding off designating American International Group as a systemically important financial institution, perhaps into next year, according to several sources.