federal government

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  State Division of Insurance to Report Losses from Boston Marathon Bombings

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

  The Massachusetts Department of Insurance says it has a data call out to the insurance industry in order draft a report on the April 15 bombings at the Boston Marathon.

• Effort to Delay Some NFIP Rate Hikes Dies in Congress, For Now

  By Arthur D. Postal, PropertyCasualty360.com  |  May 15, 2013

  An effort to delay federal flood insurance rate hikes on “grandfathered” properties for five years was rejected by the Senate late Tuesday.

• Senate Majority Leader Seeks Compromise on Bill to Delay NFIP Rate Hikes

  By Arthur D. Postal, PropertyCasualty360.com  |  May 10, 2013

  Senate Majority Leader Harry Reid is taking extraordinary steps to force a compromise on a proposed amendment to pending legislation that would indefinitely delay politically-sensitive hikes in flood insurance premiums scheduled to go into effect next year.

• State Farm Seeks New Trial Against Rigsbys in Katrina-Related Whistleblower Case

  By Chad Hemenway, PropertyCasualty360.com  |  May 8, 2013

  State Farm is seeking a new trial with two sisters, independent adjusters, who accused the insurer of defrauding the federal government following 2005’s Hurricane Katrina.

• S&P Upgrades AIG P&C; Affirms Life Rating

  By Staff Writer  |  May 7, 2013

  Standard & Poor’s has upgraded American International Group P&C business financial strength rating one notch to “A-plus” and affirmed the “A-plus” rating on the its life business citing the successful restructuring of the company over the past two years.

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  As Federal Crop Insurance Costs Rise, Report Questions Effectiveness

  By Arthur D. Postal, PropertyCasualty360.com  |  May 2, 2013

  A new report takes issue with the current structure of the federal crop insurance program, arguing that in many cases it allows growers to make more money from insurance payouts than they would from a healthy harvest.

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  Crop of Controversy

  By Claire Schuster, PropertyCasualty360.com  |  May 1, 2013

  A relentless drought, tenacious wildfires, extreme weather—over the past year, all of these have plagued the U.S. agricultural business, leading to lingering uncertainty for farmers and the agents and brokers that serve them.

• Miss. Jury Finds State Farm Defrauded NFIP After Katrina

  By Chad Hemenway  |  May 1, 2013

  A federal jury in Mississippi has ruled that State Farm committed fraud against the government’s NFIP following Hurricane Katrina.

• House Subcommittee Chair Pushes Requirement that Lenders Accept Private Flood Policies

  By Arthur D. Postal, PropertyCasualty360.com  |  April 25, 2013

  demand by a House Financial Services subcommittee chairman that bank regulators move quickly to impose a rule requiring mortgage lenders to accept private flood insurance is prompting a split in the insurance industry.

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  NJ, NY Insurers Settle 93% of Superstorm Sandy Claims

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

  Superstorm Sandy is now the third costliest storm in U.S. history, the Insurance Information Institute says.

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  Uncertainty Surrounds Compensation for Boston Bomb Victims

  By Ben Berkowitz, Reuters  |  April 19, 2013

  Victims of the Boston Marathon bombings will eventually win some kind of compensation, but it is far too early to know how much money there will be, whether private donors or insurers will provide most of it, and how long it might take to distribute.

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  Q&A: Bob Petrilli of Swiss Re Corporate Solutions

  By Anya Khalamayzer, PropertyCasualty360.com  |  April 18, 2013

  PC360 spoke to Bob Petrilli, managing director of North American P&C for Swiss Re Corporate Solutions about the state of the insurance market, models and TRIA.

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  Three Stages of Compliance: Local, National, International

  By Robert Regis Hyle, PropertyCasualty360.com  |  April 15, 2013

  Do you have Solvency II on your mind? I didn’t think so. There are more than a few among us wondering what European insurance regulations have to do with doing business in the United States.

• PCI: FIO Disaster-Loss Estimates Pose Challenges

  By Elizabeth Festa, PropertyCasualty360.com, Chad Hemenway, PropertyCasualty360.com  |  April 12, 2013

  President Obama's budget proposal contains language implying the FIO should have the “ability to immediately estimate exposures related to catastrophic events,” and provide it to the federal government.

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  Insurance Industry Closely Watches Proposed Firearms Liability Laws

  By Bonnie Cavanaugh, PropertyCasulaty360.com  |  April 12, 2013

  Legislators from the federal government to the state level have been vocalizing their request for improved gun control, but does the insurance industry have a role?

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  The Benefits of Partnership

  By Kevin McPoyle, CIC  |  April 9, 2013

  At what point does a relationship between an underwriter/agent or client/agent become a partnership?