News

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America's Health Insurance Plans today urged Congress to revise current health care reform legislative proposals to focus more on cost controls and medical liability law changes.

The recession of 2008 has demonstrated that insurers understand their risks better than banks, an insurance executive advised at an industry conference.

Swiss Re said worldwide natural catastrophes and man-made disasters, which killed 15,000 people last year, cost insurers $26 billion, $26.5 billion less than the firm reported for 2008.

American International Group said employees have paid back close to $45 million in bonus payments that the taxpayer-supported company has asked to be returned.

Legislation proposed by Sen. Chris Dodd, D-Conn., would give specific authority to federal banking regulators to oversee insurance companies, especially if they pose a potential threat to the financial system.