With the amount of money generated by the insurance industry andthe fact that its obligations are subject to legalinterpretationoften during high-profile court battlesthere is nevera shortage of controversy in this business. Thats good news for anewspaperman like myself. What were my picks for Top 10Property-Casualty Insurance Stories of 2007? Click on to read 'emand weep.

The accompanying list of top stories for 2007 is totallysubjective. Indeed, if you feel Ive overlooked a key development,write and tell me so on the comment section below.

Its hard not to tap the soft market as the years top story,since falling prices have such an impact on everyones bottomlinewhether you are a buyer, seller or distributor. Going forward,the rising limits, broader coverage and looser conditions offeredto attract business will also take their toll on the industrysfortunes.

The way insurer integrity was challenged over Hurricane Katrinaclaims, then later on the number of homeowners underinsured forCalifornia wildfires, was a clear number-two story in my mind,given the political repercussions. Insurers can only hopeWashington turns its attention (and wrath) on banks next yearfollowing the subprime mortgage crisis, and leaves their industryin relative peace.

TRIA's 11th hour passage in Congress was also a no-brainer,given the widespread impact had Washington failed to extend thefederal terrorism reinsurance program. (As this item was posted,note that since President Bush had yet to sign the bill, and with aDec. 31 expiration looming, TRIA is still technically at risk,although I cannot imagine the President leaving the entire countryexposed to massive terrorism losses entering an election year.)

As for the other six choices, take a look and let me know whatyou think. I'll post a few of them on my blog over the next fewdays, but feel free to click on the links below and comment atwill.

Otherwise, have a very happy holiday!!!

Here goes nothing. My top stories are:

#1: Prices Plummet, With No Letup In Sight

#2: Critics Fry Insurers Over Katrina Claims

#3: TRIA Extension Goes To The Wire

#4: Floridians On The Hook For Billions

#5: A New Sheriff Cleans Up New York

#6: Bermuda Sitting Pretty, But For How Long?

#7: Sicko Exposes Health Insurance Ills

#8: Real Time: Its Now Or Never!

#9: IRS Attack Blindsides Captives

#10: California Fires Burn Insurer Reputations