News

Lloyd's of London is in the market for a new U.S. leader with the exit this summer of LoriAnn Lowery as president of Lloyd's North America, the National Underwriter has learned.

Florida Gov. Charlie Crist has vetoed a measure that would have permitted some insurers to charge unregulated property rates, stating that it would allow them to essentially "redline" areas of the state.

Creating a new federal consumer protection agency for insurance would result in "a duplicative, inefficient system that would add even more costs" for buyers, a top property and casualty industry official warned Congress last week.

In its latest divestiture move, American International Group Inc. announced today that it has agreed to sell 98 percent of the shares in its consumer finance operations in Russia to Banque PSA Finance SA.

Four anti-fraud groups have written California Gov. Arnold Schwarzenegger, criticizing his budget proposal to downgrade most insurance crimes from felonies to misdemeanors.

Expressly, race-based employment decisions are illegal, the Supreme Court ruled today in a closely watched discrimination case brought by white and Hispanic firefighters.