News

The struggling economy will spur mergers and crimp insurers' profits in the short term, but down the road it offers them opportunities to achieve efficiencies and greater growth, the head of the Life Office Management Association said.

Property and casualty insurer Zurich said it is entering the risk retention group and self-insurance groups markets.

The Property Casualty Insurers Association of America (PCI) is asking the Treasury Department to "tread carefully" in providing financial aid to life insurers with property-casualty operations.

More than 75 percent of workers' compensation physical impairment ratings are incorrect because doctors "are not held accountable," an expert told an industry conference here.

The National Conference of Insurance Legislators sent a letter last week to Congress insisting that proposals for financial services regulatory reform involve state and federal regulators as equal partners.

It will take at least three-to-five years for American International Group to repay the tens of billions spent by taxpayers to keep the beleaguered company afloat--and that's only if the capital markets cooperate, AIG's head informed Congress last week.