The $139 million settlement, which will be paid by the liability insurance for the board members, is the largest cash settlement in such a derivative case, according to one of the plaintiff's attorneys.

IIABA names its Legislator of the Year and bestows agent awards, IronPro, Risk Placement Service and Glatefelt launch new programs

The insurance industry lost money on underwriting in 2012 and its rate of return of 5.9 percent fell far short of its long term average. But profitability is improving.

Market Luminary, a new online community for the property & casualty insurance industry, was formed to allow professionals to build relationships with colleagues, collaborate, network, rate vendors, and interact with experts.