News

Sen. Jay Rockefeller, D-W.Va., failed to win a commitment from federal and state insurance regulators for regulations imposing tight control on administrative costs in health care insurance premiums.

Ethics violations against Rep. Charles Rangel, D-N.Y., include a charge that he solicited and won a $5 million grant from a foundation then associated with American International Group to create an educational institute that bears his name.

Tropical Storm Colin, the third named storm of the Atlantic hurricane season, is moving toward the eastern seaboard of the U.S. but is not expected to strengthen into a hurricane over the next five days

The Deepwater Horizon oil rig explosion and spill is not a "watershed" event for the property and casualty industry despite an expected $4-to-$6 billion in commercially insured losses, Towers Watson said.

Catlin Group Limited has named Peter Schmidt as chief executive officer, European Reinsurance.

The private insurance market cannot solely bear the risk associated with terrorism, making the need for a terrorism backstop like that provided by the Terrorism Risk Insurance Act (TRIA) essential, the insurance industry said.