Risk Management

Bermuda has launched an effort called Bermuda First to help jump-start the island's economy in light of the global financial crisis, said the co-chairman of the initiative.

The federal government is undertaking a multipronged probe of the bonuses paid American International Group executives, including an initiative by the Department of Justice of the options available to recover the funds.

Regulators for 50 states investigating American International Group's (AIG) reporting of workers' compensation premiums between 1985 and 1996 will seek to reach an agreement with the insurer in June, an attorney for one of the lead states said.

State Farm Florida has until April 14 to submit an amended petition for an administrative hearing regarding its plans to withdraw the company's property insurance business from the state, and the insurer said it plans to meet that deadline.

The Florida House of Representatives voted approval yesterday for legislation to restore the attorneys' fee cap in workers' compensation cases that was ruled unenforceable by the State Supreme Court.

Officials of a House panel have asked federal agencies to deliver reports today from an independent monitor retained to oversee American International Group in 2005.

Marsh announced today that its captive management practice has been recognized by the State of Connecticut Insurance Department as the first firm eligible to provide captive management for captive insurance companies domiciled in the state.

A key House committee chairman said today that Congress plans to accomplish passage of legislation reforming the nation's healthcare system this year.