Technology originally developed for the Israeli Security Ministry is now being used to help identify fraudulent insurance claims.

The chief executive of a hedge fund disputed the assertion in a New York Times article that Allied World Assurance Co. made a substantial investment in his firm.

The Global Federation of Insurance Associations, a group of 31 associations representing 87 percent of the insurance business globally and much of the U.S. industry, formally established itself as an association and held its first meeting today in Washington at the headquarters of the American Council of Life Insurers.

The commercial auto insurance segment recorded its first underwriting loss in eight years in 2011 due to a combination of declining premiums, increasing claims severity and a reduction in favorable prior-year reserve releases, a new report states.