Five executives convicted of producing a sham insurance contract deal between General Re Corp. and American International Group argued in the U.S. Court of Appeals that a district court committed multiple procedural missteps during their 2008 trial.

In a series of filings with the Securities and Exchange Commission, American International Group (AIG) submitted adjusted financial statements taking into account several transactions meant to ultimately repay taxpayers.

The National Association of Insurance Commissioners is considering amending the NAIC Model Risk Retention Act to require the states of domicile to follow the NAIC's governance model governing risk retention groups.

The New York Insurance Association (NYIA) elected Richard Zick as its chairman for a one-year term ending Dec. 31, 2011.

Progressive Corp. reported net income for the month of October dropped 28 percent as its combined ratio increased 4.3 points.

Treasury deputy secretary Neal Wolin told London stockbrokers today that the Obama administration believes the new financial services reform law gives it the power to

The decline in reserve releases could indicate that the property and casualty market is set for a turn in the cycle that could come as soon as 2012, according to a financial analyst's report.

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