Insurers have experienced alarming decreases in return on assets and face legislation and other forces making their business increasingly competitive, a consulting firm report has found.

Pennsylvania regulators said they will take legal action against Kingsway Financial Services, Inc. over its attempt to shed its ownership of troubled Pennsylvania insurer, Lincoln General Insurance Company.

Federal Reserve officials woefully underestimated the potential cost of bailing out American International Group, according to a report issued by the Office of the Special Inspector General for the Troubled Asset Relief Program.

Bernard Madoff could not be convinced to buy professional liability insurance for his investment services, but legal requirements did force him to purchase a fidelity bond, a specialty broker revealed at an industry conference.