Progressive says it is entering into a licensing agreement with USAA for intellectual property related to usage-based car insurance programs.

Bank of America Corp has rejected a bid to re-open negotiations into its proposed $8.5 billion settlement with investors in mortgage securities, indicating it plans to take its chances that a New York judge will approve the deal.

The U.S. Supreme Courts recent decision that generic drug manufacturers are not liable for defectively designed drugs will have little impact on the price and availability of coverage provided by product liability insurers.

Risk and reinsurance specialist Guy Carpenter & Co. says it has launched the only multi-peril crop insurance product for Australian grain farmers.