The Risk and Insurance Management Society expressed initial reservations regarding New York Governor Andrew Cuomo’s proposal to merge the New York State Insurance Department (NYSID) with other departments into a combined Department of Financial Regulation (DIFR).

A bill that will allow captive insurers in New Jersey passed both houses and is on its way to Gov. Chris Christie for signing, which is expected to happen this month.

Aon Benfield has agreed to serve as placement advisor to a new sudden oil spill consortium, formed to deliver larger liability limit coverage for deepwater drilling in U.S. waters, Aon and Munich Re announced late last month.

Many companies are unknowingly vulnerable to data leakage, phishing attacks, trojans or advance persistent threats, according to a new report from Lloyd's and technology company HP.

Research on climate change is ongoing, but risk management evaluation and strategies need to begin now to avoid the consequences of flooding and escalating property loss, according to a recently published study.

Aon Benfield has agreed to serve as placement advisor to a new sudden oil spill consortium formed to deliver larger liability limit coverage for deepwater drilling in U.S. waters, Aon and Munich Re announced.

The explosion of the Deepwater Horizon oil rig in the Gulf of Mexico on April 20 left 13 dead and 17 injured, leading to a massive oil spill and environmental disaster.

The U.S. Justice Department this week issued a civil lawsuit against BP and eight other companies, including QBE Underwriting Ltd., seeking unspecified penalties under the Clean Water Act.