Two federal prosecutors are investigating possible workers' compensation abuses at Illinois government agencies after disclosures of millions of dollars in payouts and questionable practices by arbitrators.

MarketStance, a resource for demographic data and analytical services for the U.S. insurance industry, and GeoLogix Solutions, a market data and analysis firm specializing in insurance industry solutions, announced the merger of the two companies.

Liberty Insurance Company Limited, a Liberty Mutual Group subsidiary, received approval from China’s regulator to establish a branch in Guandong province.

New York has officially adopted its $132.5 billion budget, which gives the rubber stamp on a proposal to merge the state’s banking and insurance departments.

Zurich Financial Services Group says it expects approximately $500 million in claims from 2011 first quarter Asia-Pacific catastrophes.

Early indications point to a more active hurricane season for the United States in 2011 compared to last year, AccuWeather.com Hurricane Center meteorologists say.

Homeowners’ claims costs have been climbing in Wash., and a new study conducted by the Insurance Research Council (IRC) has identified legislation passed in 2007 as the most probable culprit.

The reinsurance industry is well-positioned to absorb first quarter catastrophe losses that could rise as high as $42 billion, according to reports released today, and while pricing is expected to improve, another event may be needed to spur global hardening.