Business Insurance Breaking News

Pat Ryan launches wholesale group

CHICAGO—Patrick G. Ryan, founder and former executive chairman of Aon Corp., on Tuesday announced the launch of Ryan Specialty Group, a holding company for managing general underwriters, managing general agents and wholesale brokers, along with a service platform for agents and brokers.

Toyota sued in California by U.S. shareholders

LOS ANGELES (Reuters)—Toyota Motor Corp. faced its first U.S. class action lawsuits stemming from complaints of faulty brakes in its top-selling Prius hybrid car and from investors claiming they were misled about problems with unintended acceleration in a wide range of models.

State Farm warned NHTSA on Toyota in 2007: Official

BLOOMINGTON, Ill. (Reuters)—State Farm Insurance informed a U.S. government regulator of a worrying trend of vehicle-caused accidents involving Toyota Motor Corp. as far back as late 2007, an official at the company said.

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