Insurers that make price the overriding concern when selecting a policy administration system, have failed to do their homework and are not serious about the purchase, a technology consulting firm advises.

FirstBest Systems, Inc., developer of advanced insurance underwriting management systems, has announced it has secured $6 million in Series B funding. Flybridge Capital and Brookstone Partners led

Treasury Secretary Tim Geithner voiced support today for any legislation creating an optional federal insurance charter or Office of Insurance Information that would help the White House improve its oversight and understanding of insurance.

The Obama administration today asked Congress for authority to create a federal regulator with authority to administer large insurance companies.

National Underwriter's Property & Casualty Web site has changed.The new URL is www.Property-Casualty.com--complete with enhanced options to give readers more opportunity to access NU content and offer feedback.

There was no discrepancy between American International Group's chief executive approving an expedited payment of bonuses and his remarks that he was unhappy with them, a company spokesperson said yesterday.

A.I.G. said a number of its executives who work outside the United States for its troubled Financial Products unit have returned bonuses that have drawn criticism from U.S. and state officials.

Do the recent clashes between Washington and AIG make federal regulation of insurance more likely than before the bailout? Click to http://www.property-casualty.com to answer this week's National Underwriter online poll.