News

Robert Benmosche, who this week came out of retirement to take over as AIG's CEO, drew high praise from many leading agents and brokers, although concern was cited about his lack of p&c insurance background.

California's top insurance regulator said he will "closely scrutinize" an anticipated request by insurers for a 22.8 percent hike in the benchmark rate for workers' compensation coverage.

Chartis Inc., formerly American International Underwriters, said it has named George Stratts president and chief executive officer of its Global Marine and Energy Division.

A London-based group that opposes extremism in the Middle East and Europe said pending U.S. legislation to beef up sanctions against Iran could impact Lloyd's underwriters.

Aon Corp. insurance brokerage said it is reorganizing its unit which manages captive insurance operations, and that action involves four appointments.

Despite American International Group's recent profitable quarter, Moody's Investors Service said its outlook remains negative and it has doubts about the company's ability to fully repay the government.