News

A bill introduced in Congress yesterday establishing some federal regulation over the insurance industry has drawn opposition from an insurance agents group while the two major insurers are supporting the move.

Associate Editor Mark Ruquet in an audio commentary considers whether New York's former crusading attorney general caused AIG's meltdown. Click "Podcasts" on NU's new Web site, www.property-casualty.com.

Loss battered Swiss Re announced today that it has named a new chief operating officer and plans to trim more than 1,000 jobs from its global workforce and close some offices.

Proceeding as planned and selling the company at this time "would bring the government only pennies on the dollar for their investment in AIG," Greenberg, the former chairman of AIG, New York,

Boston-based technology solutions provider AgencyPort Insurance Services Inc. said it has formed a partnership with RiskMeter Online, an online application used to automate property risk evaluation reports. Terms of the deal were not released.

Elizabeth A. Monrad, the former chief financial officer for Gen Re, was sentenced today to 18 months in federal prison for her role in a sham insurance scheme involving American International Group.