Business Insurance Headlines

Commercial property/casualty rates fell 5.6% in the fourth quarter of 2009 compared with a 5.8% decline in the third quarter, the Washington-based Council of Insurance Agents & Brokers said Friday.

LONDON—Willis Group Holdings P.L.C. on Thursday extended the contract of Chairman and CEO Joseph J. Plumeri until July 7, 2013.

ATLANTA—A female employee subjected to considerable gender-specific vulgarity can pursue her hostile work environment claim, even though the profanity was not directed specifically at her and was common at the workplace, a federal appeals court has...

WASHINGTON—Two influential members of Congress called Thursday for the Government Accountability Office to conduct a wide-ranging investigation into federal financial aid given to American International Group Inc.

WILMINGTON, Del. (Reuters)—A shareholder sued Goldman Sachs Group Inc.'s board for excessive bonuses and wants bank executives to pay the $500 million in charitable donations that Goldman is making after being criticized for its compensation policy.

NEW YORK—Willis North America said Thursday that Alastair Swift has been promoted to chief placement officer, effective immediately.

WASHINGTON (Reuters)—U.S. House Speaker Nancy Pelosi said on Thursday she did not think the Senate's version of health care reform had enough support to pass the House of Representatives without changes.

NEW YORK (Reuters)—Health insurer UnitedHealth Group Inc. posted a better-than-expected quarterly profit on Thursday, helped by moderating flu costs and growth in its businesses serving the elderly and low-income Americans.

NEW YORK—A New York state judge Wednesday granted prosecutors' request to dismiss criminal charges against several former insurance executives who pleaded guilty to charges in connection with New York's investigation of bid-rigging and broker...

The proportion of workers compensation medical costs subject to physician fee schedules is declining, threatening the effectiveness of the traditional cost containment measure, a report said.

WASHINGTON—The Pension Benefit Guaranty Corp. said Wednesday that it has taken over underfunded pension plans sponsored by bankrupt specialty metal products manufacturer Crucible Materials Corp.

HARTFORD, Conn.—Hartford Financial Services Group Inc. plans to place a $100 million catastrophe bond to cover a portion of its U.S. hurricane exposures, a market source confirmed Wednesday.

NEW YORK—Commercial insurance prices fell in the fourth quarter of 2009, and the U.S. market is likely to remain soft in 2010, according to a pricing index released Wednesday.

LONDON—Markel International Ltd. said Wednesday that it has appointed Ewa Rose as managing director of its new trade credit division in London.

BRUSSELS—The European Commission has approved Denmark’s plan to provide a state guarantee of insurance coverage for losses from terrorist attacks that exceed certain thresholds.

PORT-AU-PRINCE, Haiti—A magnitude 7.

LOS ANGELES—A California court has ruled that a commercial general liability insurance policy's products and completed operations hazards exclusion applies to a bus company's work that allegedly led to a fatality occurring off its premise.

NEW YORK (Reuters)—Health insurer Aetna Inc. on Tuesday said operating earnings would likely fall this year, bucking Wall Street expectations for an increase and sending the company's shares down more than 6%.

WASHINGTON—The chairman of the House Oversight and Government Reform Committee said Tuesday that he plans to issue a subpoena to the Federal Reserve Bank of New York for documents related to payments made by American International Group Inc.

NEW YORK—American International Group Inc. property/casualty unit Chartis Inc. has named Thomas Scherer senior vp and general counsel, the company said Tuesday.