AIG Chairman and Chief Executive Officer Edward Liddy said today he agreed to pay bonuses to employees at its troubled Financial Products unit only because "I am trying to prevent an uncontrolled collapse of that business."

According to the letter, the top recipient received more than $6.4 million; 22 individuals received bonuses of $2 million or more, and combined they received more than $72 million; 73 individuals

A State Farm marketing effort involving a toy giveaway has turned into a beastly problem, involving a voluntary recall of more than 800,000 stuffed teddy bears it handed out that involve a safety hazard.

James A. Goodman was named the president of the Professional Insurance Agents of Connecticut during the group's annual conference yesterday in Mashantucket, Conn.

The National Association of Professional Insurance Agents said it will hold its 27th annual Federal Legislative Summit April 1--2 in Washington and lobby Congressman for continued support of state insurance regulation.

The National Association of Insurance Commissioners Executive Committee has voted to revisit the controversial issue of insurers' use of consumers' credit information to determine their rates.

The ranking minority member of the Senate Banking Committee signaled today that plans for a general overhaul of financial services regulation should involve considering federal insurance industry oversight.

The Nebraska Supreme Court has upheld language in a directors and officers liability insurance policy that excludes protection against actions by a regulator.