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    • AIG's New CEO Tries To Cut Banking Fees

      SAN FRANCISCO (Reuters) - American International Group Inc. chief executive Robert Benmosche attempts to reduce the investment banking fees that the insurer pays the giant corporations, including Morgan Stanley, according to a media report...

    • Workers Liable To Reveal All To Network Sites

      Before an employee from Kentucky Fried Chicken or the Coca-Cola Co. posts the secret recipe or formula on Facebook or Twitter, there are a few things employees and employers should know. A survey released by Hartford, Conn.-based Travelers...

    • Greenberg, Smith Agree to Binding Arbitration With AIG

      Maurice Hank Greenberg, former chief executive officer of American International Group Inc., and the company's former chief financial officer, Howard I. Smith, have agreed to terms for binding arbitration to settle the various legal dispute...

    • AIG Shares Tumble For Second Straight Day

      NEW YORK_American International Group Inc. shares tumbled Tuesday for the second straight day as investors sold shares of the embattled insurer nearly as quickly as they bought them last month. Shares of AIG plummeted $7.12, or 15.7 percent,...

    • AIG Agrees To Arbitrate Disputes With Greenberg

      NEW YORK_A judge on Monday dealt a setback to American International Group Inc. in its legal fight with former CEO Maurice Hank Greenberg, ruling that a company he ran did not improperly seize AIG stock from an executive retirement plan. Se...

    • Insurers Prepare To Handle Calif Wildfire Claims

      CHARLOTTE, N.C._Insurance companies said Monday it was too soon to determine how much they would have to pay for claims from wildfires that have already burned more than 80 homes in California and threatened thousands more. A massive Los An...

    • Fitch: Solid Overall 1H'09 Performance But Earnings Challenges Remain for U.S. P&C Insurers

      NEW YORK--(BUSINESS WIRE)-- Following a review of first-half 2009 GAAP results reported by the U.S. property and casualty (PC) insurance industry, Fitch Ratings observes that significant unrealized investment gains combined with mostly solid...

    • AIG Leads Thursday's AMBG as Global Insurance Index Declines 0.10%

      The AMBG closed Thursday, Aug. 27, at 787.72 (-0.10%). Of the 15 A.M. Best stock indexes, nine rose and six declined. Leading A.M. Best's Global Insurance Composite Index (AMBG) were American International Group Inc. (+26.93%) and National...

    • PCI Urges Consumers to Stay Alert and Plan Ahead During Hurricane Season

      The Property Casualty Insurers Association of America issued the following news release: As the New England and Mid-Atlantic coast states brace for Tropical Storm Danny, which could strengthen and become a hurricane over the weekend, proper...

    • AIG's Benmosche to Get Paid

      WASHINGTON (TheStreet) -- AIG's new CEO is going to get paid. The $10.5 million pay package for American International Group's (AIG:NYSE) new CEO, Robert Benmosche, is expected to be formally approved by Kenneth Feinberg, the Treasury Depar...

    • Employers Direct Recommits to California, This Time With Independent Producers

      Weeks after announcing plans to leave the California market, workers' compensation writer Employers Direct Insurance Co. made a deal to continue operating in the state through agents and brokers. The insurer signed an agreement to sell the...

    • PCI Mourns Death of Senator Edward Kennedy

      WASHINGTON David A. Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), issued the following statement on the death of Senator Edward M. Kennedy (D-Mass.): Senator Kennedy was one of the most consequen...

    • Insurance Rate Increases Being Stifled, Claims Marsh

      Excess capacity and competition have been stifling insurance rate increases across Europe, the Middle East and Africa in the first half of 2009, according to new figures from broker Marsh. According to the company, although rising claim not...

    • BISD Sues Insurers For Ike Claim Payments

      Beaumont ISD has filed suit against its insurance carriers in an ongoing disagreement about how much the district is owed for its claims for damages from Hurricane Ike. The district says that the insurers have had ample time to make an adju...

    • California Man Faces up to 40 Years for Alleged Workers' Comp Fraud

      A California man is facing up to 40 years in prison and $3.2 million in fines for allegedly defrauding the State Compensation Insurance Fund. Joseph Baiden, 56, is charged with eight felony counts of workers' compensation fraud after bring...

    • Louisiana Avoids Assessments; Citizens Reaches Agreement With Plaintiffs

      Louisiana Citizens Property Insurance Corp. will be able to appeal a $95 million judgment against it, avoiding what the insurance commissioner called a potentially catastrophic event complete with assessments on all private insurance carrie...

    • Moody's: P&C Insurers' Investments Well Positioned

      CHARLOTTE, N.C._Although some property-and-casualty insurance companies' investment portfolios have been affected by the credit crisis, Moody's Investors Service said the sector is currently well positioned to manage continued volatility in...

    • Seventh Straight Workers' Comp Rate Cut Proposed for Florida

      The National Council on Compensation Insurance filed for an average statewide decrease of 6.8% for workers' compensation rates in Florida for a seventh consecutive year. If approved, the cuts would lower payments by Florida businesses by mo...

    • A.M. Best Assigns Ratings to Censtat Casualty Company

      OLDWICK, N.J. - (Business Wire) A.M. Best Co. has assigned a financial strength rating (FSR) of B++ (Good) and an issuer credit rating (ICR) of bbb to Censtat Casualty Company (CCC) (Omaha, NE). The outlook assigned to the FSR is stable, whi...

    • Insurer Seeks $1.3 Million From County In Mercer Case

      The $45 million settlement in Milwaukee County's longstanding pension lawsuit may not have closed the books on that chapter in county history after all. Now, an insurance company is seeking $1.3 million from the county, claiming the May set...
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