News

Former American International Group Chief Executive Maurice "Hank" Greenberg and the company's former chief financial officer will get $60 million from AIG's insurers as part of a proposed settlement to resolve shareholder derivative claims.

For eight years United States Fidelity & Guaranty Company (USF&G), now part of Travelers Cos., had been looking to recoup from reinsurers about half of a $987 settlement with an asbestos policyholder.

The government's numbers revising economic growth downward were not something insurers wanted to hear--nor were indications from analysts that the property and casualty market will not see a reversal in pricing or earnings anytime soon.

A Republican runoff in Oklahoma set the stage for a colorful race for state insurance commissioner between the state's first woman commissioner and a Republican who is challenging the constitutionality of the health care law.

Legislative and regulatory restraint, strong statewide building codes, and incentive programs to entice new insurers to Louisiana have each contributed to the state's recovery since Hurricane Katrina.

Predictions of an active hurricane season are looking accurate as the peak of the season begins with three storm systems in the Atlantic and Hurricane Danielle reaches Category 4 strength.