Risk Management

A South Carolina bill that would define an “occurrence” in construction general liability insurance contracts in a way opposed by the insurance industry passed the Senate, and an insurer group is seeking to delay action in the House until the courts weigh in again.

Hamilton, Bermuda-based insurer Ariel Reinsurance Co. says it expects first-quarter catastrophe events will cost the company between $35 million and $50 million, but it expects to report positive net income for the period.

Learn about the emerging and more concerning risks for public entities and what can be done to help manage them

Liberty Insurance Company Limited, a Liberty Mutual Group subsidiary, received approval from China’s regulator to establish a branch in Guandong province.

New York has officially adopted its $132.5 billion budget, which gives the rubber stamp on a proposal to merge the state’s banking and insurance departments.

The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.

Federal financial regulators are taking aim at large compensation packages paid to non-executives at financial institutions.

The New York State legislature appears to be on the verge of passing legislation to address the state’s group self insured trust workers’ compensation system, which has amassed about $800 million in unfunded liabilities, sources tell NU Online News Service.