Commercial U.S. property/casualty insurance rates dropped an average of 4% in August compared with the same period last year, MarketScout said.

Rates for most lines of property/casualty reinsurance are expected to soften further during upcoming renewals and the outlook for the global reinsurance sector remains negative, Moody’s Investors Service Inc. said Wednesday.

NEW YORK—Willis Group Holdings P.L.C. has appointed former American International Group Inc. CEO Martin J. Sullivan to lead a new business unit that oversees Willis’ brokerage and risk management advisory services for multinational clients.

Sword Insurance, which provides policy administration, distribution and related services, has relocated its headquarters to Sleeper Street in Boston. CEO Steve Hauck said the move brings all of ...

The New York Giants have been sued by a woman and her husband who claim she was attacked by fans during a New York Jets game played at Giants Stadium last year. Michelle Munoz says she attended ...

Chicago-based insurance broker Hub International Limited has acquired the shares of Sinclair Cockburn Financial Group (SCFG), a Toronto, Ontario-based insurance and financial services firm with ...

Former AIG Chief Executive Officer Martin Sullivan, who was ousted three months before the U.S. government bailed the insurer out, is joining Willis Group Holdings PLC, the insurance broker said ...

Colemont Global Group, the international division of wholesale insurance broker AmWINS Group, Inc., has acquired a majority share of CMK Insurance Brokers Company Limited. CMK Insurance Brokers ...

BP's Deepwater Horizon oil disaster in the Gulf of Mexico was not caused by a single factor but by "multiple companies and work teams," according to the oil giant's internal investigation. BP's ...

BMS, the London-based specialist insurance group, announced the appointment of Carl Beardmore as CEO of BMS Associates Ltd, the group holding company, subject to the approval of the UK's Financial ...

An explosion ripped through a major Mexican refinery Tuesday, killing one worker and pushing gasoline and diesel prices higher on worries state oil monopoly Pemex will have to import more fuel. ...

Natural disasters are tending to kill fewer people but climate change may add to the toll by unleashing more extreme weather and causing after-effects such as disease and malnutrition, experts ...

Willis Group Holdings announced the appointment of Martin J. Sullivan as Deputy Chairman of Willis Group Holdings plc and Chairman and CEO of a new business unit, Willis Global Solutions, which ...

LONDON (Reuters) - BP P.L.C. deflected much of the blame for a rig blast that led to the United States' worst-ever oil spill, releasing an internal report on Wednesday which said that drilling contractor Transocean Ltd. had missed danger signs.

Solutions Insurance Group LLC of Colorado Springs, Colo., has joined ICA Agency Alliance Inc. based in Colorado Springs. Since it's inception in 1995, SIAA has signed 3,450 new members in the ...

Salt Lake City-based The Buckner Co. has named Mark A. Oligschlaeger executive vice president/chief operations officer. He joins the insurance firm after having spent the last 12 years working for ...

SCF Arizona promoted directors Ginny Arnett Caro to vice president, Claims Services, and Dan Hernandez to vice president, Operations & Small Business Services. Arnett Caro oversees a division ...

WASHINGTON—Employees who want to pay for over-the-counter medications using their health care flexible spending account will need a prescription to do so effective Jan. 1, 2011, according to new Internal Revenue Service rules.

Risk modelers say Hurricane Earl caused extremely minimal damage as it passed by the East Coast and agents in the hardest hit area of the United States, the Outer Banks of North Carolina, are ...

MUMBAI, India—Willis Group Holdings P.L.C.