Independent agents and underwriters sparred with U.S. Agriculture Department representatives over agent commission caps put forth as part of the mandated cuts to the federal crop insurance program during a recent House subcommittee hearing.

American International Group announced last week it will sell its majority interest in its consumer lending business, American General Finance, and take a pre-tax loss of $1.9 billion in the third quarter from the transaction.

Instead of using offshoring for cost-reduction purposes alone, insurers should evaluate it as nothing less than part and parcel of their strategic efforts to increase growth and profitability.

Property and casualty results at AIG deteriorated slightly in a competitive market, while overall the company reported a second-quarter net loss of $2.7 billion, primarily due to a $3.3 billion goodwill impairment charge on the sale of a life subsidiary.

Trade groups representing large insurers and the biggest corporate buyer association are urging the Treasury Department to ensure that the Federal Insurance Office plays a strong role in representing the U.S. on global insurance issues.

National Underwriter, in partnership with Flasp?hler Research Group, will launch a survey of independent agents this month that will result in the inaugural "NU Producer Choice Awards," to be unveiled in the Oct. 18 edition.

Facing shrinking resources, an uncertain economy, and changing political and regulatory landscapes, risk managers may be forced to reassess their particular captive insurance solutions, a new white paper suggests.

Russian wildfires that have engulfed hundreds of thousands of acres will likely have minimal insurance impact, according to one expert.