The property and casualty insurance industry's reaction to legislation creating an Office of National Insurance within the Treasury Department is dividing industry trade groups.

President Barack Obama suggested that he supports insurance-backed financial regulatory reform in his press conference last night.

Five Safeco subsidiaries have been fined more than $430,000 for several violations of the state's insurance law. Among the violations were the company's use of unlicensed casualty adjusters.

Troubled insurance carrier American International Group has not paid $2.4 million in bonuses to executives after being denied approval from the U.S. Treasury Department, a department nominee said.

WASHINGTON--The Treasury Department last night sent to Congress legislation creating an Office of National Insurance (ONI) with strong authority over solvency and international issues.

Willis Group Holdings has been appointed as the broker for a high-speed rail project in Hong Kong by MTR Corporation Ltd.--the operator of Hong Kong's rapid transit railway system.

Insurers are failing to take advantage of subrogation opportunities in auto claims cases as a potential means of offsetting losses, maximizing revenue and positively affecting customer retention, a survey of carriers has found.

A survey of the needs of AARP members prompted The Hartford Financial Services Group, Inc., to expand its AARP-branded auto insurance by offering the coverage through independent agents.