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Marsh & McLennan Companies reported 2010 third quarter net income of $168 million, a 24 percent decrease compared to 2009 third quarter net income of $221 million.

A new report from the Florida Office of Insurance Regulation appears to confirm what insurers in the state have been saying about the problem that sinkhole claims have become.

Tierney is Chubb's new COO; Korsgaard is named worldwide claim officer.

Catastrophe modeler Risk Management Solutions said the end of the 2010 Atlantic hurricane season is not the time to relax. Conditions "are still ripe for further activity."

Last week's election results for state gubernatorial races across the nation are likely to radically change the complexion of the state insurance regulatory system, with commissioner positions hinging on the actions of newly elected governors.

American International Group said the sale of one foreign insurer and the initial public offering of a second have raised enough money to repay a line of credit it has with the Federal Reserve Bank of New York.

With its third-quarter net income result doubling over last year, and its capital position improving, Swiss Re said it has reached agreement to repay Berkshire Hathaway, which injected $2.6 billion into the Zurich-based reinsurer last year.

There was a collective sigh of relief at the final meeting this year of the National Association of Insurance Commissioners.