News

Despite poor financial results, competition among insurers continued to be intense in the second quarter, but depletion of capital signals rising commercial insurance rates ahead.

Robert Benmosche, a former chairman and chief executive officer at Metropolitan Life, has been named to head American International Group, replacing CEO Edward Liddy.

Insurers must prepare for an expected increase in catastrophic losses arising from climate change. Key strategies will incorporate prudent risk selection, accurate claim reserving, and technology adoption.

The U.S. House of Representatives passed legislation last week extending the expiring National Flood Insurance Program yet again--this time until March 31, 2010.

Terry Fleming, Risk and Insurance Management Society vice president, told an industry conference here that federal legislation is needed to standardize the payment of workers' compensation awards.

One longtime reader, "Joe Skeptical," actually composed a poem to express his views about the second rebranding of AIG's insurance operations. Check it out and offer your own critique on NU Editor Sam Friedman's blog today at www.NUSamSoapBox.com.