American International Group is selling part of its stake in AIA Group to raise about $6 billion to help the U.S. insurer repay a huge federal government bail-out. AIG is looking to place some 1.7 billion AIA shares in a …
Nevada is becoming the first of the U.S. states to regulate self-driving vehicles on its roadways. The state’s legislative commission has approved regulations that were vetted by car manufacturers, insurance companies, law enforcement officials and others. Nevada Department of Motor …
Bailed-out insurer American International Group Inc. sold its entire $500 million stake in private equity firm Blackstone Group LP on Friday, according to a source familiar with the situation. AIG, which became majority owned by the U.S. government after it …
Less than a year after a series of tornadoes caused some of the worse insured losses in U.S. history, the insurance industry is likely facing substantial costs again after storms killed at least 33 people on Friday. Friday’s system has …
BP Plc has reached an estimated $7.8 billion deal with businesses suing over the massive 2010 Gulf of Mexico oil spill, the company said on Friday, but the oil giant still faces claims by the U.S. government, Gulf states and …
Across the South and Midwest, survivors emerged Saturday to find blue sky and splinters where homes once stood, cars flung into buildings and communications crippled after dozens of tornadoes chainsawed through a region of millions, leveling small towns along the …
American International Group disclosed in its annual report that Chartis management decided last year to cease writing excess workers’ compensation business as a stand-alone product — as “part of its on-going initiatives to reduce exposure to capital intensive long-tail lines.” …
Despite some concern that Oklahoma is returning to the “lawless days of yesteryear,” a state House panel has approved a bill (House Bill 2522) to allow gun permit holders to openly carry firearms. The House Public Safety Committee voted 13-2 …
Pennsylvania’s highest court is handing the Corbett administration a major victory in a dispute over a malpractice insurance fund. The state Supreme Court’s Wednesday decision overturned a Commonwealth Court ruling ordering the state to transfer hundreds of millions from its …
A federal agency blames inadequate management policies, procedures and controls for a fatal accident at an Alaska mine last year. The U.S. Mine Safety and Health Administration on Wednesday released its report on the September accident at the Kensington gold …
