The Travelers Companies Inc. reported first-quarter profits fell 2.3 percent, pushed down by "unusually significant" catastrophe losses of $471 million pretax.

Two former managers of a Salinas, Calif. plant admitted to denying employees the workers' comp benefits to which they were rightfully entitled.

Willis Group Holdings said it will unveil an Internet-based campaign to educate insurance buyers about the conflicts of contingent commissions at the Risk and Insurance Management Society meeting in Boston.

Washington Governor Chris Gregoir is considering vetoing a provision of an appropriations bill that would transfer $10 million from the state's Insurance Commissioners Regulatory Account to the general fund, an official said.

The firm owning the drilling rig that sank in the Gulf of Mexico could be liable for millions of dollars depending on its leasing agreement with BP, a lawyer familiar with oil and gas litigation said.

Researchers said by summer's end they plan to start extensive tests on a gigantic new facility that will try to blow apart houses to gauge the effects of hurricane winds.

With concerns mounting over the dangers of driver distraction from cell phones and texting, a new British survey is highlighting perils from GPS devices.

Risk management is a diverse discipline with much to offer the financial services industry, but arrogance will cause the soundest plans to fail, observes Caroline McDonald in her blog. Find out more at www.NoRiskZone.com.