Risk Management

Dozens of state insurance regulators have descended on Congress, to urge that any federal insurance regulatory reforms should keep in place and build on the existing state-based regulation model.

Magazine publisher and former Republican presidential candidate Steve Forbes told an industry conference here that insurers should choose who will regulate them.

Treasury Secretary Timothy Geithner cautioned today that the government's involvement with American International Group is likely to be lengthy.

American International Group announced that with government monitors' approval it is reconfiguring its board with the nomination of six new members to give it a majority of new independent directors.

American International Group investors will get $843 million as part of the company's 2006 settlement of a huge accounting fraud, a federal court in New York ruled yesterday.

Allstate Corporation said today it won't participate in the government's Troubled Asset Relief Program, saying it already has adequate capital and cash on hand.

Neal Wolin, a former top official at The Hartford, was confirmed by the Senate yesterday as deputy secretary of the Treasury.

A defense firm that lost a court bid to have St. Paul defend it against suits by former Iraqi prisoners alleging its employees tortured them would not comment yesterday on whether it would challenge that decision.