Personal Lines

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.

Former American International Group Chief Executive Officer Maurice Greenberg arrived here to tell a House panel how the government should fix AIG and heard a congressman call him the wrong witness because of his legal problems.

Legislation to impose some federal regulation on insurers and create a federal insurance charter mechanism has been introduced by two House members who said the American International Group meltdown underscores the need for their measure.

The federal government is undertaking a multipronged probe of the bonuses paid American International Group executives, including an initiative by the Department of Justice of the options available to recover the funds.

State Farm Florida has until April 14 to submit an amended petition for an administrative hearing regarding its plans to withdraw the company's property insurance business from the state, and the insurer said it plans to meet that deadline.

The Florida House of Representatives voted approval yesterday for legislation to restore the attorneys' fee cap in workers' compensation cases that was ruled unenforceable by the State Supreme Court.