E&S/Specialty

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• House Introduces Third TRIA-Extension Bill

  By Arthur D. Postal, PropertyCasualty360.com  |  May 24, 2013

  A new bill extending the Terrorism Risk Insurance Act for 10 years has been introduced in the House.

• Chubb Takes Advantage of Recent Law; Will Write Surplus-Lines Business in Home State

  By Arthur D. Postal, PropertyCasualty360.com  |  May 24, 2013

  Chubb has gained authority to write surplus-lines-insurance business in New Jersey, its own state--an apparent new trend.

• Heard at AAMGA: Rates Firming, but Slowly; Risks Returning to E&S

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 24, 2013

  Burns & Wilcox CEO Alan Kaufman says the wholesale broker is writing more business, and insurance pricing is increasing, but market capacity and the economy are impeding the rate of incline.

• House Enters NFIP Rate-Hike Battle with Bill to Delay Some Reforms

  By Arthur D. Postal, PropertyCasualty360.com  |  May 24, 2013

  Before going home for Memorial Day, Louisiana House members Thursday introduced legislation aimed at forestalling major increases in flood program rates starting next year.

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  Citizens Taking 'Bold Yet Responsible' Depopulation Step

  By Barry Gilway  |  May 24, 2013

  Citizens Property Insurance Corporation’s Board of Governors this week took a bold yet responsible step to reduce the risk to Florida taxpayers while protecting Citizens policyholders in the event of a catastrophic storm.

• NRDC: Insurers Running from Climate-Change Risks; Insurer Group Disputes Figures

  By Anya Khalamayzer, PropertyCasualty360  |  May 23, 2013

  The National Resources Defense Council says private insurers are turning away from climate-change risks, sending an “unmistakeable signal” that such risks are increasing and that costs to society are climbing, but an insurance industry association disputed some of the figures used to arrive at that assumption.

• Under Pressure, Landrieu Again Seeks to Block NFIP Rate Increases

  By Arthur D. Postal, PropertyCasualty360.com  |  May 22, 2013

  Sen. Mary Landrieu, D-La., late Tuesday introduced legislation that would roll back a number of National Flood Insurance Program reforms passed last year.

• Offshore Insurer Tax Debate Revived with Introduction of House, Senate Bills

  By Arthur D. Postal, PropertyCasualty360.com  |  May 22, 2013

  The fault lines between domestic and offshore insurers again opened due to bills in the House and Senate of legislation that would reduce the tax benefits foreign insurers receive by ceding U.S. property and casualty premiums to their foreign affiliates.

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  All About Tornadoes

  By Phil Gusman, PropertyCasualty360.com  |  May 21, 2013

  Tornadoes have caused $97.8 billion in insured losses in the U.S. between 1990 and 2009, making these weather events second only to hurricanes for that period as the costliest natural disasters. Learn about the damage caused to the U.S. in recent years from these weather events.

• Cat Bond Investors on Alert After Oklahoma Twister

  By Sarah Mortimer, Reuters  |  May 21, 2013

  Investors in niche financial bonds that cover insurers against huge natural disasters are on alert for future events that could force them to pay out after the powerful tornado that struck the U.S. on Monday, brokers and fund managers said.

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  Battle over NFIP Rate Hikes Causes Ripples in Louisiana Senate Race

  By Arthur D. Postal, PropertyCasualty360.com  |  May 20, 2013

  The battle over rate hikes imposed on flood insurance program policyholders in Louisiana is intensifying, with the big prize being the Senate seat now held by Mary Landrieu, D-La.

• S&P Cuts Rating for Buffett's Berkshire Hathaway

  By Jennifer Ablan, Ben Berkowitz and Jonathan Stempel, Reuters  |  May 17, 2013

  Warren Buffett's Berkshire Hathaway Inc. had its credit rating cut one notch by Standard & Poor's, which cited a new methodology for evaluating insurers and Berkshire's dependence on its insurance business for dividend income.

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  Cause of Fire at West Fertilizer Co. Remains Unknown; Scene Investigation Complete

  By Chad Hemenway, PropertyCasualty360.com  |  May 17, 2013

  After a month-long scene investigation, investigators still do not know what caused the fire that led to a massive explosion at the West Fertilizer Co. in Texas.

• Zurich Q1 Profits Slip as Reserve Release Declines

  By Alice Baghdjian, Reuters  |  May 16, 2013

  Zurich Insurance Group posted a fall in profits in the first quarter, with lower net releases of reserves compared with the prior year offsetting fewer natural catastrophes.

• Endurance Hires Team to Start Excess Casualty Unit

  By Staff Writer  |  May 16, 2013

  Bermuda's Endurance Specialty Holdings says a new Excess Casualty team is joining the insurer.

• LIU Launches New Marine BOP

  By Staff Writer  |  May 15, 2013

  Liberty International Underwriters has launched a new policy to cover marine liability and property-related risks for small and mid-size marine businesses owners and operators.