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The American Society of Workers Comp Professionals has presented Arthur R. Cadorine of Jersey City, N.J.-based Insurance Services Office with its Legends Award.

In the midst of our worst economic crisis since The Great Depression, everyone is eager to choose one target as the scapegoat for the entire financial mess. Not surprisingly, most are pinning a good part of the blame on AIG

As discussions heated up over whether to give Washington broad authority to regulate insurers posing systemic risks to the economy, the controversy cooled somewhat last week over retention bonuses paid to players at AIG's Financial Products unit.

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.

In looking at medical professional liability financial results, some people might say that pigs are indeed airborne.

J. Randolph Babbitt, a partner in the aviation practice of management consulting firm Oliver Wyman, a Marsh & McLennan subsidiary, has been nominated to head the U.S. Federal Aviation Administration.

Profits at Lloyd's last year plunged to $2.7B--less than half of the $5.66B reported for 2007--but its CEO was counting his blessings, contending the market's positive bottom line was "a pretty good result" given the state of the economy.

The prognosis for the financial health of medical malpractice insurers seems cautiously optimistic, despite continuing economic uncertainty and a range of challenging underwriting conditions.