Commercial Lines

The property and casualty insurance industry is suffering from an unwelcome surprise in its loss portfolio, as areas once perceived to be at low risk for catastrophes are generating costly cat losses, says a Guy Carpenter report.

The property and casualty insurance industry is suffering from an unwelcome surprise in its loss portfolio, as areas once perceived to be at low risk for catastrophes are generating costly cat losses, says a Guy Carpenter report.

The latest sale of American International Group stock now underway by the U.S. Treasury means that the federal government has now fully recouped its investment in the company and has already made $15.1 billion on its investment, AIG and Treasury officials said last night.

The latest sale of American International Group stock now underway by the U.S. Treasury means that the federal government has now fully recouped its investment in the company and has already made $15.1 billion on its investment, AIG and Treasury officials said last night.

Insurance rates continued to rise in the third quarter for both businesses and individual customers, extending the pricing power that developed late last year, insurer Travelers Cos Inc said on Tuesday.

The rare weather event of tornadoes touching down in New York City produced no significant insurance losses, according to industry experts.