The Federal Reserve Bank of New York had American International Group use bailout money to pay banks full collateral on assets, some of which had dropped in value by more than 60 percent, a federal official is to tell a congressional committee.

The International Insurance Society announced that Temple University Professor Kailin Tuan is the 2010 winner of the John S. Bickley Founder's Award Gold Medal for Excellence.

A searing minority report by Republicans has scored the Federal Reserve and Treasury for being "deceptive and dishonest" about the government bailout of American International Group.

Property and casualty insurers could easily be trapped in the "wave of political populism" sweeping the country in the wake of the nation's economic and leadership crises, an insurers' association leader warned.

White Mountains Re Ltd. said it has agreed to acquire the bankrupt Central National Insurance Company of Omaha from Drum Financial Corp. for $5 million.

Insurance agencies should not be surprised to see less compensation from carriers in the year ahead as many companies reassess their payment arrangements and require more business from them in a difficult economy.

A property and casualty insurance industry initiative has been launched nationwide to increase the use of real-time processing by independent insurance agencies.

When the U.S. recession finally ends, workers' compensation systems will have to function in a "shrunken new normal" economy requiring cost cuts, one leading industry figure warned.