Loss battered Swiss Re announced today that it has named a new chief operating officer and plans to trim more than 1,000 jobs from its global workforce and close some offices.

Proceeding as planned and selling the company at this time "would bring the government only pennies on the dollar for their investment in AIG," Greenberg, the former chairman of AIG, New York,

Boston-based technology solutions provider AgencyPort Insurance Services Inc. said it has formed a partnership with RiskMeter Online, an online application used to automate property risk evaluation reports. Terms of the deal were not released.

Elizabeth A. Monrad, the former chief financial officer for Gen Re, was sentenced today to 18 months in federal prison for her role in a sham insurance scheme involving American International Group.

The New York State Insurance Department and the Autoridade Monet?ria de Macau- Macau's insurance regulator - have reached a memorandum of understanding which will allow for closer cooperation between the two regulators.

Legislation was introduced in both the House and Senate yesterday aimed at expanding limits on heavy trucks' access to major roads.

Bermuda has launched an effort called Bermuda First to help jump-start the island's economy in light of the global financial crisis, said the co-chairman of the initiative.

U.S. federal securities class action suits in 2008 rose 29 percent over the previous year fueled by the global financial crisis, according to a consulting firm report released yesterday.