"The convergence of several negative economic influences has resulted in unprecedented financial pressure on insurance carriers," said Karen Pauli, a research director in the TowerGroup Insurance prac

Former American International Group Chairman Maurice Greenberg has asked the current chairman Edward Liddy where a new, multisector, credit default swap financial venture got $35 billion in cash colla

The Insurance Research Council (IRC) estimates that claim fraud and buildup added between $4.8 billion and $6.8 billion in excess payments to auto injury insurance claims closed with payment in 2007.

James Mastowski, Jimcor chief executive officer, said in a statement, "With Jimcor's 20-plus years of placing excess and surplus lines business and Zaloom's broad experience with admitted carriers, we