News

CNA Financial Corporation reported third-quarter net income of $263 million, a $594 million improvement over a net loss of $331 million for the period last year.

Compromise legislation proposed by the Obama administration and Rep. Barney Frank would give federal banking regulators broad authority over large, troubled insurers, stirring concern within the property and casualty industry and among state officials.

C.V. Starr & Company--headed by Maurice Greenberg, the former boss of American International Group--strongly denied that the managing general underwriter is busy looting staff from AIG.

Dealing with the risks from sea piracy, cyber crime and climate change, will require vision, pragmatism and the collaboration of the public and private sectors, Lloyd's chief executive said.

State regulators, legislators and even a consumer advocate group expressed alarm last week over efforts in Congress to usurp some insurance oversight power, warning that federal lawmakers are going too far in preempting local authority over the industry.

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