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The U.S. bore all the risk for its rescue of American International Group under the Troubled Asset Relief Program (TARP), but the program largely benefitted overseas institutions, a new Congressional Oversight Panel (COP) report said.

Crawford & Company has confirmed that it has been retained to administer claims stemming from the Gulf oil spill.

A tropical depression did not intensify into a tropical storm before making landfall along the Gulf Coast over southeastern Louisiana, but the slow-moving system will continue to dump rain on the region through Friday evening, reports indicate.

The future of Financial Guaranty Insurance Co. is in grave doubt after the company reported a second quarter net loss of $16 million as its exposure to the securitization of collateralized debt obligations takes a toll.

According to new polling data, Florida Gov. Charlie Crist did not act in the best interest of his constituents when he vetoed an omnibus property insurance bill that would have addressed cost-drivers in the market.

Severe flooding in China this summer has caused massive destruction and tens of billions of dollars in damage, but is unlikely to have a large impact on the insurance industry, Guy Carpenter's Instrat unit said.

Columbus, Ohio-based specialty property and casualty insurer Bancinsurance Corp. plans to go private, offering $8.50 a share for its common stock in an all cash offer.

California Governor Arnold Schwarzenegger is opposing a suggested 29.6 percent workers' compensation rate increase as the state's Workers Compensation Insurance Rating Bureau