News

U.S. officials on Thursday gave four states currently governed by Republicans the green light to set up their own health insurance exchanges under President Barack Obama's healthcare reform law, an initiative largely opposed by Republicans.

Super-regional insurer American Family Insurance says it has closed on the acquisition of a high decorated direct auto insurance provider.

The House vote Friday on aid to Superstorm Sandy victims will only be for raising the cap on the National Flood Insurance Program's borrowing authority.

Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from the massive 2010 BP Plc oil spill in the Gulf of Mexico, a source familiar with the matter said on Thursday.

An insurance carrier that writes approximately $150 million in premium is by no means considered a large insurer, but companies of that sizeincluding Pennsylvania Lumbermens Mutual Insurance Company (PLM)often operate in niche markets.

John Phelps, director of Business Risk Solutions for Blue Cross and Blue Shield of Florida, Inc., will serve as the president of the Risk and Insurance Management Society in 2013.