News

Bill Gunter has been awarded the McKay Cup by the Florida Association of Insurance Agents.

A U.S. Appeals Court has thrown out a suit against American International Group Inc. directors and officers, stating that the plaintiffs failed to show that the AIG officials were not acting in the best interest of the company as they faced the subprime market meltdown.

The Texas Windstorm Insurance Association chose to immediately relieve its general manager of his duties rather than keep him until a replacement is found.

Illinois Insurance Director Michael McRaith was appointed as the first director of the Federal Insurance Office, a move that drew praise from insurance industry members.

Another chapter has closed on the contingent-commission kickback saga with an agreement reached between a group of insurers and insurance brokers—and their clients who alleged the industry tried to manipulate the business.

A group of banks seeking to prevent guaranty insurer MBIA Insurance Corp. from splitting into two companies says the company underestimated its losses by as much as $10 billion to the N.Y. State Insurance Dept.