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Sen. Jeff Merkley, D-Ore., has introduced an amendment to financial services regulation now pending in the Senate that would drastically reduce the authority of the Office of National Insurance it would create.

In his first annual shareholder meeting address, American International Group chief executive officer Robert Benmosche highlighted positives such as the company's strong 2010 first quarter results and increased retention of business and employees.

An independent agent group announced it has made arrangements to provide an online aerial photography tool for its members to use with northeast region property submissions.

The 11th U.S. Circuit Court of Appeals has ruled in favor of the Florida Office of Insurance Regulation in connection with litigation with a life settlement firm.

Florida ranked as the Number 1 state for generating the most staged auto accidents.

John T. Leonard, president and CEO of the MEMIC Group, has been elected 2010 board chairman of the National Council on Compensation Insurance, Inc.

The CEO and other officers are accused in a shareholder lawsuit, SEC files civil fraud charges and the bank said it expects more.

The company said its revenue rose 50.3 percent to $10.93 billion, helped by a rise in net premiums earned, which was up 44.4 percent to $9.98 billion at the end of the year.