insurance

American International Group plans to pay out $503 million in deferred compensation to some of its top employees, saying it must tap the funds to keep valuable workers from exiting the troubled insurance giant.

The government on Monday provided new assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership.

Two insurance companies have said they will not participate in the government's rescue program to directly invest billions in financial companies.

The government considered extending the bailout to include insurance companies, and the auto industry stepped up efforts to secure a share of the money.

Banking and insurance company ING Groep NV said Sunday it will receive a capital injection from the Netherlands' central bank.

A day after New York’s attorney general criticized bonuses and other payments made by A.I.G., the insurance giant agreed to allow its spending habits to be reviewed.

The insurance giant agreed to help New York’s attorney general recover millions in improper expenses, including compensation to two former top executives.

Sellers of insurance on bonds issued by Lehman Brothers are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts.

A medium-sized Japanese insurance company says it has gone bankrupt, becoming the first Japanese financial company to collapse on the fallout from the U.S. credit crisis.

Peter Wood admits he walked unchallenged into an insurance company and was able to steal all their data. He is not in trouble though, it was part of a security exercise and he was hired to try and steal that data.

Of course, as Wood says, very often companies "unwittingly hire people whose sole purpose is to steal data" without even realizing it.

Wood explains how some people in the banking community have "quietly and anonymously said to me" that they have found employees who have "been placed in their company by criminal gangs and they have been operating as moles over that...