News

Almost two years after Hurricane Ike nearly wiped out the town of Galveston, Texas, the Texas Windstorm Insurance Association has agreed to pay an estimated $189 million to policyholders whose homes were destroyed by the storm.

President Barack Obama signed financial services reform into law last week, setting in motion an intense effort by interested parties to shape the regulations and government bodies that will implement the legislation to their liking.

The House passed a five-year extension of the National Flood Insurance Program, but a concurrent causation amendment is prompting fierce industry opposition, and it is unclear whether the Senate will even take up the measure this year.

After several years of doing without contingent commissions, insurance broker Aon said it plans to begin accepting bonus compensation from carriers once again.

New automation options can now handle the link between UR-approved treatment plans and medical bill review. Read about how payers and claim professionals can better manage rising medical costs while streamlining the claim process.

AIG agreed to pay $725 million to Ohio and Florida public pension plan funds in a securities class-action settlement to resolve bid-rigging allegations that the funds said had negatively impacted the company's value.