Aon Corp. announced the creation of Aon Cornerstone Innovative Solutions, an effort it said is aimed at developing relationships between minority businesses and Aon's corporate clients.

Two property-casualty insurance trade groups have argued to Congress that American International Group is off the mark in saying that its bankruptcy would pose a "systemic risk" to the property-casualty insurance industry.

Former Lloyd's executive James Sutherland has been named chief executive officer of the newly established, government-owned Qatar Insurance Services, QIS announced.

Validus Holdings, Ltd. said it has filed preliminary proxy materials with the U.S. Securities and Exchange Commission in connection with its battle to acquire IPC Holdings, Ltd.

U.S. property-casualty insurers have weathered the global financial crisis well because of a superior risk management model, Robert Hartwig, president of the Insurance Information Institute, told an industry conference today.

Despite international efforts that have suppressed some attacks on Gulf of Aden shipping, the piracy problem is escalating along with a 10-fold increase in vessel insurance rates, a maritime expert said.

Coral Insurance Company, a Florida residential property insurer with 11,750 homeowner policyholders, has been put in receivership, the Florida Department of Financial Services announced yesterday.

A.M. Best Co. said it has revised Liberty Mutual Group's outlook to negative from stable for its financial strength and issuer credit ratings due to the group's "sizable deterioration" in overall capitalization.