News

The Wisconsin insurance commissioner says Ambac Financial Group’s plan for reorganization is not in the best interest of policyholders and says he intends to contest it.

In this turbulent economic environment, personal-lines insurers have the edge over their commercial-lines counterparts and are a more attractive place for investors, according to a recent report.

Property and casualty insurers remain the most exposed sector among financial institutions to volatility within the municipal-bond market, holding about $355 billion in municipal bonds, but the overall level of risk should be manageable, Moody’s says.

Allstate Corp. has added to its tally of New York lawsuits seeking to recover investment losses on residential mortgage-backed securities with a filing against Morgan Stanley.

Commercial Agency Awards for Excellence cite an overall winner, as well as four category awards in excellence in “Sales and Marketing,” “Customer Service,” “Technology and Operations,” and “Recruitment and Training.”

Alan Jay Kaufman has been named an entrepreneur of the year by Ernst & Young for the Michigan and Northwest Ohio region in the Business Services category.