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The property and casualty insurance industry is suffering from an unwelcome surprise in its loss portfolio, as areas once perceived to be at low risk for catastrophes are generating costly cat losses, says a Guy Carpenter report.

Drought-related crop-insurance losses could reach as high as $20 billion, according to the latest estimates.

Drought-related crop-insurance losses could reach as high as $20 billion, according to the latest estimates.

Under the Senates proposed amendment, premiums would rise 15 percent for farmers with incomes of more than $750,000.

Signs are emerging that severe temperatures and lack of rain may cause steep losses in the Midwests corn crop, but insurers remain hopeful that beneficial rains will fall and help crops in troubled areas of the country.

The fires in Colorado hit close to home.

More than 100 homes were damaged yesterday as three tornadoes touchdown in Michigan, but there were no fatalities reported.

Over $3 billion in losses for the mining-insurance industry has resulted in a decrease of 30 percent of insurance capacity in the line, says a report from Willis Group Holdings.