Insurers with assets of more than $50 billion would not be subject to the pre-funding provisions of the resolution authority that would be created in Senate financial services reform legislation to deal with firms posing a systemic risk to the economy.

Reacting to the health care legislation passed by the House, insurance and employer groups voiced deep concerns over what they see as a lack of provisions designed to reduce costs.

Insurance fraud-related convictions increased by 24 percent last year in New York State, the State Insurance Department's Fraud Bureau reported.

The World Trade Center Captive insurer said it was disappointed in a federal judge's order that it pay more to those clean up workers and uniformed services personnel sickened and injured at the World Trade Center, site after the Sept. 11, 2001 attacks.

While multinational insurers struggle to establish global uniformity in regulation, disparities in systems of taxation around the world remains an unproductive factor in determining where carriers do business, industry leaders say.

Regional property & casualty insurer ACUITY has reported full-year 2009 net income of nearly $50 million, a 66 percent increase over 2008 net income of $29.4 million.

Ten large property and casualty insurers today asked leadership of the Senate Banking Committee to exempt the industry from federal oversight in financial services reform legislation that will be marked up starting Monday.

Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. said it has acquired two Voorhees, N.J.-based insurance agencies, Excel Underwriters Alliance, Inc. and Spirit Underwriters, Inc. Financial terms were not disclosed.