News

The House passed legislation to reform and streamline regulations for nonadmitted commercial surplus lines insurers and reinsurers.

Health insurance reform legislation drafted for the Senate Finance Committee would create a network of nonprofit cooperatives as an alternative provider for the coverage, according to an outline obtained by National Underwriter.

Reinsurers at the annual Reinsurance Rendez-Vous de Septembre meeting are finding rating agencies have a divided opinion of how their industry is faring.

Kansas City, Mo.-based insurance broker Lockton said it has opened a second office in Brazil, in Rio de Janeiro, that will expand its energy and reinsurance capabilities in South America.

American International Group as a result of ongoing settlement negotiations has now paid $85.6 million related to its workers' compensation coverage for Boston's Central Artery Tunnel (CA/T) "Big Dig" project, it was announced.

American International Group Inc. announced Saturday its latest asset sale involving a piece of its global asset management business will eventually bring in $500 million.