Risk Management

Sen. Mike Crapo, R-Idaho, will replace Sen. Richard Shelby, R-Ala., as ranking minority member of the Senate Banking Committeea key Senate oversight panel for the insurance industry.

The board of American International Group will consider on Wednesday joining a lawsuit filed by former chairman Maurice Hank Greenberg that argues that the government was unfair to AIG shareholders when it bailed out the insurance giant in 2008.

A Missouri farm mutual that teetered on the brink of insolvency after the Joplin tornado in 2011 is now back on solid ground, says the states insurance department.

While winter weather pelted the U.S. heartland in December causing millions of dollars in damage and close to 30 deaths, the Philippines suffered from Super Typhoon Bopha, which struck the island of Mindanao taking close to 2,000 lives, says Aon Benfield.

Insurance industry officials are voicing strong support for the legislation signed into law Sunday by President Obama that raised the borrowing authority for the National Flood Insurance Program by one-third.

The political and financial fallout from Superstorm Sandy will continue despite President Obama signing legislation on Sunday that will allow the National Flood Insurance Program to continue to pay claims.

American International Group President and CEO Robert Benmosche fired back at The New York Times in response to a Dec. 24 editorial the paper ran on whether the circumstances surrounding the 2008 bailout of the insurance giant could ever happen again.

Congress passed and sent to President Obama for signature today legislation that increases the borrowing authority for the National Flood Insurance Program by one-third.