News

Allstate Insurance Company has agreed to settle a government age discrimination suit by paying $4.5 million to 90 older agents impacted by a company reorganization, it was announced.

U.S. District Court Judge Stanwood R. Duval Jr. in New Orleans has given approval to settlement of class-action lawsuits against several Louisiana levee boards for damage from Hurricanes Katrina and Rita.

While many insurers have adopted the concept of a chief risk officer, a CRO's functions and authority are largely underdeveloped, according to a new study by Deloitte.

Richard Napier, the star government witness in the American International Group accounting fraud case, was sentenced to two years of federal probation and fined $10,000.

XL Capital Ltd., the Bermuda-based insurer whose profits have been off, has announced that the company and its chief financial officer, Brian Nocco, have agreed to part ways at year's end.

NU Editor Sam Friedman, celebrating his 28th anniversary, talks about the importance of helping develop the next generation of insurers, brokers and risk managers in his blog today at www.NUSamSoapBox.com.