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Comments provided to the Federal Insurance Office on how insurance should be regulated in the future ranged from strong support of the current state-regulatory system to calls for the federal government to play a lead role if uniformity and consistency of regulation is to be achieved.

A.M. Best Co. has downgraded the financial strength rating (FSR) and issuer credit rating (ICR) of British Petroleum's captive insurer, Jupiter Insurance Limited, over concerns regarding the Deepwater Horizon oil spill in the Gulf of Mexico.

The International Insurance Society (IIS) has elected Norman R. Sorensen as its new chairman.

Insurance industry officials said they expect when Congress resumes it will act quickly to renew the expired National Flood Insurance Program.

Vernon D. Smith has been much in the insurance news lately, as the poster boy for certain transactions

Flagstone Reinsurance Holdings Limited announced its board of directors is recommending a plan to change the company's place of incorporation from Bermuda to Luxembourg.

A.M. Best Co. has withdrawn its "A-minus" financial strength rating (FSR) and "a-minus" issuer credit rating (ICR) for White Mountains Re Bermuda Ltd.

Allstate Floridian Insurance Group, which changed its name last week to Castle Key Group to "clarify" that it is separately capitalized from Allstate Insurance Company, has been downgraded by A.M. Best Co.