News

A combination of new business and high retentions contributed to an 11 percent increase in net income for Itasca, Ill.-based insurance broker Arthur J. Gallagher.

A House bill that has drawn attention and some support from insurance groups to restrict the number of prescriptions issued for the pain killer OxyContin appears likely to face a difficult challenge to secure passage, Congress watchers said.

The Travelers Companies Inc. reported first-quarter profits fell 2.3 percent, pushed down by "unusually significant" catastrophe losses of $471 million pretax.

Two former managers of a Salinas, Calif. plant admitted to denying employees the workers' comp benefits to which they were rightfully entitled.

Willis Group Holdings said it will unveil an Internet-based campaign to educate insurance buyers about the conflicts of contingent commissions at the Risk and Insurance Management Society meeting in Boston.

Washington Governor Chris Gregoir is considering vetoing a provision of an appropriations bill that would transfer $10 million from the state's Insurance Commissioners Regulatory Account to the general fund, an official said.