Risk Management

Insurers bracing for potential losses from the installation of defective Chinese drywall in homes in the Southeast may find themselves named directly in lawsuits, according to legal experts.

American International Group announced today it was accelerating the spin-off of its major property-casualty insurance units into a separate company so that it can sell off a minority share to the public.

Federal authorities need legislation to give them legal authority to step in when a huge non-bank company like American International Group gets into financial difficulties, Treasury Secretary Timothy Geithner told Congress today.

A New York inquiry into Allstate operations, provoked by statements in an article written by the firm's chief executive, has sparked some fiery words of controversy.

Competing U.S. and Bermuda insurance interests have been ramping up lobbying efforts on Capitol Hill over a proposed tax code change that would impact treatment of U.S. business ceded to Bermudian carriers.

Moves by Florida lawmakers to provide a federal backstop to the state's severely underfunded Hurricane Catastrophe Fund are running into strong headwinds on Capitol Hill.

American International Group Inc. and Zurich Financial Services Group announced a $1.9 billion deal last week for the sale of AIG's auto unit--21st Century Insurance Group--to a Zurich subsidiary, Farmers Group Inc.

A National Association of Insurance Commissioners task force voted yesterday to continue using existing model laws as guidelines for a personal lines regulatory framework and rejected a bid for a less restrictive system.