The cost of insurance claims for lightning strikes nearly doubled between 2004 and 2011, even as the actual number of claims shrank dramatically, and an industry trade group says fancy new TVs and videogame consoles are to blame.

Bailed-out insurer AIG on Thursday said the head of its airplane leasing unit admitted to having an inappropriate relationship with an employee, and the company demoted him and cut his salary as a result.

Bailed-out insurer AIG on Thursday said the head of its airplane leasing unit admitted to having an inappropriate relationship with an employee, and the company demoted him and cut his salary as a result.

Tropical Storm Chris strengthened in the North Atlantic off Newfoundland on Thursday, becoming the season's first Atlantic hurricane, forecasters at the U.S. National Hurricane Center said.

The credit ratings of European insurers would be cut if Greece was to suffer a disorderly exit from the euro, hit by a slump in the value of their investments, credit rating agency Fitch said on Wednesday.

The credit ratings of European insurers would be cut if Greece was to suffer a disorderly exit from the euro, hit by a slump in the value of their investments, credit rating agency Fitch said on Wednesday.

Insured losses from last week's violent hailstorm in Dallas should be just under $1 billion, a trade group for Texas insurers said on Tuesday, sharply less than what another industry group estimated last week.

Insurer Travelers Companies will pay $10.5 million in refunds and penalties for violations of California insurance law in 2006, the state's insurance department said on Monday.