News

The North Carolina House of Representatives has given final approval to a measure reforming the state's Beach Plan, its residual market property insurer.

Robert Ingram, a former Safeco executive, was named senior vice president and chief information officer for The Hartford Financial Services Group, Inc.'s property and casualty operations

Federal authorities released a statement countering former American International Group Chairman Maurice Greenberg's comments, which sought to diminish the import of accounting violation allegations against him.

UMB Scout Insurance Services, Inc. announced the brokerage has arranged to purchase Chapman-Sander, an independently-owned insurance agency in St. Louis, Mo., in an all-cash deal. Financial details were not disclosed.

American International Group reported net income of more than $1.8 billion for the second quarter of this year, the first time it has reported a quarterly profit since the third quarter of 2007, the New York-based insurer said.

WASHINGTON--Maurice Greenberg, former head of American International Group, has agreed to pay $15 million to settle charges of fraudulent accounting to boost the company's financial outlook, the U.S. Securities and Exchange Commission announced.