News

The sudden death of Michael Jackson might trigger one of the biggest event cancellation claims in the insurance industry's history.

Edward Liddy, before he stepped down as American International Group's embattled chair and chief executive, wrote company employees to tell them that despite liquidations and sales, the company is undergoing a rebirth, not a breakup.

Bermuda-based American Safety Insurance Holdings, Ltd. said it has named Mark W. Haushill as the company's chief financial officer. He will take his post Sept. 8.

The American International Group's AIG Financial Products Corp. said it has completed the sale of its energy and infrastructure investment assets for aggregate net proceeds in excess of $1.9 billion.

Insurance Services Office announced it has launched a new service to help auto junkyards comply with federal regulations to keep track of vehicle titles and also report under the Cash for Clunkers program.

Specialty insurer Markel Corporation reported second-quarter net income of $32.8 million, a 60 percent decrease from net income of $82.2 million in the comparable 2008 period.