News

Risk retention groups (RRGs) have an extra 15 business days, until July 15, to comply with holding company requirements and register with the state, if necessary, according to the South Carolina Department of Insurance.

British Petroleum's $20 billion fund to compensate Gulf oil disaster victims will pay quickly, eliminate trial lawyers' settlement cuts, and allow for BP's continued operations

The Florida Hurricane Catastrophe Fund and Florida Citizens Property Insurance Corp. have more than $2 trillion in total exposures

Catastrophe losses of $26.6 million during May contributed to a 19 percent drop in net income for Progressive Corp.

InVEST, an Independent Insurance Agents & Brokers Association (IIABA) program designed to attract new talent to the insurance industry, has awarded $56,500 in scholarships to 58 college-bound students pursuing insurance-related degrees.

The U.S. Securities and Exchange Commission has ended its investigation of American International Group Inc. (AIG) and Joseph Cassano, former head of the company's Financial Products unit.