Bonding between a father and son often involves a football game, fishing, or maybe a weekend golf trip, but rarely does father/son jail time come into play.

The New York State Insurance Department said it has approved the $1.9 billion sale announced in April of two AIG insurance companies to Farmers Group and the transaction should close shortly.

The loss of a jetliner with 153 aboard in the Indian Ocean off the coast of the Comoro Islands will impact prices in the aviation insurance market even further, a broker with Aon said.

Responding to the California insurance commissioner's announcement of a "Terrorism Financing Probe" of insurers, an insurance trade group said his actions could interfere with federal oversight.

World insurance premium volume fell for the first time since 1980 by 2 percent after years of expansion, according to a report released by Swiss Re.

A proposal by Gov. Schwarzenegger to downgrade various crimes from felony to misdemeanor status could not only hinder fraud-fighting efforts but could also compromise public safety. Four national anti-fraud groups urge the state to reconsider.

The $3.5 billion stock merger deal announced yesterday between consulting giants Towers, Perrin, Forster & Crosby Inc. and Watson Wyatt Worldwide Inc. was followed by a drop in Watson Wyatt stock price today.

PMSI, a specialty products and services provider for the workers' compensation market, announced the appointment today of Paul DiFrancesco as president of its Medical Services and Equipment division.