Education and preparation are essential for insurers and other companies seeking to protect themselves against multimillion-dollar privacy and data breach risks, a panel of experts said.

Arthur J. Gallagher & Co., reversing a $6 million loss for the period in 2008, reported first quarter net income of $26.4 million, helped by a strategy of acquisitions and cost cutting.

Credit scoring supporters and detractors were making their arguments at a hearing today before the National Association of Insurance Commissioners.

Policyholders of Citizens Insurance Corp., the underreserved state-sponsored insurer of last resort, could see their rates rise by up to 5 percent under legislation passed yesterday by the Florida Senate.

Even as Americans try to find ways to reduce insurance costs, they are maintaining essential auto and homeowners coverages, according to an Insurance Research Council report.

The sale of AIG's auto unit to Zurich's Farmers Group subsidiary will not alter the personal auto landscape, but will allow Farmers to develop an East Coast presence and become a competitor in the direct writer market, experts and analysts said.

As the transportation insurance segment goes, so goes the rest of the casualty market, according to those who write the business.

The personal auto market remains competitive across the country, even as rates begin to creep upward. Experts in the field said they expect competition to continue throughout the year and into 2010.