News

Proposed legislation denying tax deductions for reinsurance premiums paid to offshore affiliates will likely pass through Congress, a Bermuda executive predicted here yesterday, but he criticized the measure as a restriction of free trade.

As fossil fuel supplies are stretched thinner, risks similar to the British Petroleum oil spill will increase, according to a new report from Lloyd's and a U.K. think tank that urges businesses to rethink their approach to energy.

With $100 billion in excess capital, the property and casualty insurance market is not turning, a Wall Street analyst said Thursday, and a carrier executive attributed existing conditions to the absence of AIG's historical price leadership.

Moody's Investors Service has affirmed the ratings of Marsh & McLennan Companies, Inc. following the announcement that MMC has agreed to sell Kroll Inc. to Altegrity, Inc. for $1.13 billion in cash.

A 60-year-old man was recently arrested for receiving workers' compensation payments after he swore he could hardly get out of the house and could not even walk after a work-related injury.

The conference panel charged with reconciling the House and Senate financial services reform bills will take up the powers of a federal insurance office and surplus lines reform next week on Tuesday.