State Farm Florida has until April 14 to submit an amended petition for an administrative hearing regarding its plans to withdraw the company's property insurance business from the state, and the insurer said it plans to meet that deadline.

Insurer associations disagreed today on the extent of insurer assessment increases contained in the New York State budget agreed upon over the weekend.

Insurance trade organizations said they were successful in fending off proposals to further increase assessments on carriers as part of the proposed New York State budget that state leaders agreed on over the weekend.

As a one-year mandatory medical malpractice rate freeze is set to expire at the end of June, interested stakeholders wait to see if state leaders will come up with a plan to address the state's worsening market.

A lawyer for American International Group told a Connecticut legislative committee yesterday that attempts to cancel controversial AIG Financial Products unit bonuses would cause marketplace confusion.

Establishing a national regulator responsible for overseeing solvency and insurance pricing and products would help fix the "critical shortcomings" in the property-casualty insurance industry's current state-based regulatory structure, a report says.

The New York State home insurer of last resort said it will expand offerings by offering coverage for a wide variety of additional perils it does not currently insure.

American International Group's plane leasing subsidiary, International Lease Finance Corporation, said its future existence could be in doubt if it is unable to secure funding from its troubled parent or a third-party lender.