News

Robert H. Benmosche, president and CEO of American International Group, predicted that AIG's repayment of a line of credit it has with the Federal Reserve Bank of New York could be complete before the end of this year.

Ambac Financial Group Inc., which filed for bankruptcy protection last week, said its third-quarter earnings plunged.

The battle with state insurance regulators over implementation of the surplus lines modernization law has begun as several insurance trade groups voiced strong objections to the National Association of Insurance Commissioners' proposal.

As the population of "baby boomers" born between 1946 and 1964 heads closer to retirement, many face the reality that their years of hard work have not provided enough for a comfortable retirement.

The Centers for Medicare and Medicaid Services has agreed to delay until January 2012 certain mandatory reporting requirements for workers' compensation cases under the Medicare Secondary Payer law.

The NAIC is considering amending the NAIC Model Risk Retention Act to require the states of domicile to follow the NAIC's governance model governing RRGs, an attorney for a risk retention group association said.