News

American International Group announced last week it was accelerating the spin-off of its major property-casualty insurance units into a separate company so it can sell off a minority share to the public.

Despite the economic crisis, insurance buyers can expect flat rates overall into the fourth quarter, according to the latest poll of risk managers.

N.Y. Insurance Superintendent Eric Dinallo has begun an inquiry into whether Allstate Corporation engaged in illegal participation in unregulated insurance markets, after the insurer's CEO wrote an opinion piece calling for federal regulation.

Catastrophe risks can expect to see double-digit insurance premium increases through the rest of this year as underwriting capacity dwindles and the hurricane season approaches, an executive from Marsh said.

Since desperate times often prompt desperate measures, companies should be on the lookout for a spike in criminal acts by employees fearful of losing their jobs in a worsening economy, risk managers were warned here last week.

In looking at medical professional liability financial results, some people might say that pigs are indeed airborne.