The struggling economy will spur mergers and crimp insurers' profits in the short term, but down the road it offers them opportunities to achieve efficiencies and greater growth, the head of the Life Office Management Association said.

The Property Casualty Insurers Association of America (PCI) is asking the Treasury Department to "tread carefully" in providing financial aid to life insurers with property-casualty operations.

Despite recent outcries from federal lawmakers and plaintiffs lawyers, concerns that Chinese drywall could become the next asbestos are unfounded, experts say.

California Insurance Commissioner Steve Poizner said yesterday that he has approved a cut in State Farm auto insurance rates averaging 8 percent per policyholder.