News

A bill that will allow captive insurers in New Jersey passed both houses and is on its way to Gov. Chris Christie for signing, which is expected to happen this month.

Robert Giller faces a total of 40 counts for a scheme involving both of his businesses.

Minnesota Gov. Mark Dayton appointed attorney Mike Rothman as head of the state's Commerce Department. He will start Jan. 12.

The Florida Senate's Banking and Insurance Committee has weighed in on the sinkhole issue, proposing a set of recommendations for lawmakers when they meet later this year.

American International Group Inc. (AIG) has tentatively agreed to pay $450 million to seven named insurance companies in order to settle a protracted federal civil lawsuit over alleged underreporting of workers' compensation premiums.

In separate but identical filings, seven insurance companies are suing Toyota Motor Corp. to recoup claims paid as a result of accidents related to unintended acceleration problems that led to recalls of some of Toyota's vehicles.