News

The authority of federal regulators to oversee and liquidate troubled large insurance companies should be significantly pared back in legislation Congress is considering, insurance interests are arguing.

The chief executive officer of the Property Casualty Insurers Association of America warned his members last week to beware of a "divide and conquer" strategy in Washington when it comes to nailing down regulatory and health care reform.

Florida CFO Alex Sink urged carriers at an industry conference last week to consider entering her state's huge, hurricane-prone homeowners insurance market, pledging to work together with them to craft a less hostile regulatory environment.

American International Group was highly critical of a special master's decision to slash payments for its top employees by 91 percent for the remainder of the year.

The Society of Actuaries announced that S. Michael McLaughlin is the group's new president.

The average vehicle crash damage repair on an adjusted basis increased $164 in the third quarter, according to an electronic processing provider for the collision industry.