Assume that you set the Insert/paste pictures as value to Square, Tight, Behind text, In front of text, Through, or Top and bottom in the Word Options dialog box in Microsoft Word 2010. When you insert an image into a document, the image is inserted unexpectedly at the top of a page.
To resolve this issue, apply one of the following updates:
2825797 Description of the Office 2010 hotfix package (Kb2428677-x-none.msp): October 8, 2013
2825810 Description of the Word 2010 hotfix package (Word-x-none.msp): October 8, 2013
Registry key information
Follow the steps in this section carefully. Serious problems might occur if you modify the registry incorrectly. Before you modify it, back up the registry for restoration in case problems occur.
After you install this hotfix package, follow these steps and then restart Word 2010 to enable this hotfix:
Click Start, click Run, type regedit in the Open box, and then click OK.
Locate and then select the following registry subkey:
On the Edit menu, point to New, and then click DWORD Value.
Type AnchorPictureAtIp, and then press Enter.
In the Details pane, right-click AnchorPictureAtIp, and then click Modify.
In the Value data box, type 1, and then click OK.
Exit Registry Editor.
Microsoft has confirmed that this is a problem in the Microsoft products that are listed in the "Applies to" section.