FORT WORTH, Texas—If American Airlines Inc. terminates its four hugely underfunded pension plans, the responsibility for paying billions of dollars in benefits to plan participants will shift from the airline to the Pension Benefit Guaranty Corp.

Signs are increasing that the commercial property/casualty insurance market is definitely turning, but it's by no means a hard market yet, according to industry observers.

Merger and acquisition activity among insurance agents and brokers regained momentum in 2011 with 285 announced transactions.

ST. PAUL, Minn.—A district court judge in Minnesota last week dismissed a lawsuit seeking to force the state of Minnesota to reduce the state's greenhouse gas emissions.

AUSTIN, Texas—A temporary employee who died on the job can't be excluded from an employer's workers compensation policy, the Texas Supreme Court ruled in reversing a $2.7 million liability judgment for the worker's family.

Observers on both sides of the Atlantic say the eurozone sovereign debt problems are not likely to have a direct effect on U.S. insurers, at least not immediately.

ROSELAND, N.J.—BB&T Corp.'s planned acquisition of the life and property/casualty operating divisions of Roseland, N.J.-based Crump Group Inc.

RICHMOND, Va.—The Virginia Supreme Court's decision to rehear a climate change suit has cast uncertainty on what little judicial guidance exists on the issue of insurance coverage in climate change cases.

FORT WORTH, Texas—American Airlines Inc.'s move to terminate its pension plans could launch a legal battle over the airline's plan to shift billions in unfunded benefits to the financially ailing Pension Benefit Guaranty Corp.

MIAMI—Companies and organizations are looking at their captive insurance structures to address difficult coverages and risks, such as rising medical costs for employee benefits and reputational risks.

CAMBRIDGE, Mass.—Virginia's workers compensation system has higher medical costs than many states, but low claim frequency has kept down insurance premiums and average claim costs, according to the Workers Compensation Research Institute.

NEW YORK—A federal judge on Friday approved a $725 million settlement of a securities class action lawsuit that the state of Ohio brought against American International Group Inc.

Batman might be able to protect Gotham City all on his own, but he needed the help of a federal judge to protect the copyright to his famous ride.

DENVER—A plan to privatize Pinnacol Assurance has stalled following questions about the proposal from the insurer's stakeholders, including employers.

HARRISBURG, Pa.—Pennsylvania employers will see a workers compensation rate decrease averaging 5.7% for 2012, the state’s Insurance Department said.

RICHMOND, Va.—The Virginia Supreme Court has agreed to rehear a climate change suit after previously upholding a lower court ruling that Steadfast Insurance Co. has no obligation to indemnify Arlington, Va.-based energy corporation AES Corp.

LAKE CHARLES, La.—A restaurant server who tripped over a box of potatoes is entitled to workers compensation benefits despite a post-injury drug test showing marijuana and Xanax consumption, a Louisiana appeals court ruled.

PEMBROKE, Bermuda—Beleaguered by natural catastrophes and man-made disasters, Validus Holdings Ltd. announced on Friday that its annual net income plummeted 94.7% in 2011, to $21.3 million from $402.6 million in 2010.

NEW YORK (Reuters)—Goldman Sachs Group Inc. was ordered by a federal judge to face a securities class action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

ROSELAND, N.J.—BB&T Corp. has reached an agreement to acquire the life and property and casualty insurance operating divisions of Roseland, N.J.,-based Crump Group Inc. for $570 million, BB&T announced Friday.