American International Group's Chairman Harvey Golub has resigned, citing an inability to work with the company's chief executive officer.

Joe Plumeri, head of Willis Group Holdings, went beyond blasting the potential conflicts for brokers accepting contingency fees to urge buyers to ask who "independent" agents actually work for in an opinion column in this week's National Underwriter.

While globalization has brought many benefits to businesses, companies need to spend more time studying the new and emerging risks and planning for low-probability events, according to Lloyd's.

Catastrophe modeling firm AIR Worldwide has released its latest U.S. hurricane model, which contains hazard and vulnerability updates and provides "a more comprehensive, realistic and detailed view of U.S. hurricane risk," according to the company.

IBA West's education division, Insurance Skills Center (ISC), has entered into an agreement with Cheryl L. Koch, president and chief executive officer of Agency Management Resource Group, for management of ISC education and training programs.

Though they still pay less than the national average, Ohioans paid more for homeowners and automobile insurance in 2009, and the trend is expected to continue, according to the Ohio Department of Insurance.

American International Group agreed to pay $725 million to Ohio and Florida public pension plan funds in a securities class-action settlement to resolve bid-rigging allegations that the funds said occurred up to 2005.

The House will likely consider legislation on Thursday that would add wind coverage to the National Flood Insurance Program, a plan opposed by the insurance industry.