Commercial Lines

The string of catastrophes that wrought so much destructionand caused so many insurer lossesearly in 2011 also spurred the formation of special purpose insurers (SPIs) in Bermuda with 17 formed this year, the largest number to date.

An intense effort is underway to have the Senate Banking Committee drop a provision in flood-insurance legislation that would require homeowners and businesses to purchase federal flood insurance even if their properties are protected by levees.

An intense effort is underway to have the Senate Banking Committee drop a provision in flood-insurance legislation that would require homeowners and businesses to purchase federal flood insurance even if their properties are protected by levees.

Specialty commercial insurers continue to lead the way for property and casualty insurers underwriting results for this years first nine months, but results overall are down sharply compared to same period in 2010, according to a Fitch Ratings analysis.

Specialty commercial insurers continue to lead the way for property and casualty insurers underwriting results for this years first nine months, but results overall are down sharply compared to same period in 2010, according to a Fitch Ratings analysis.

Leadership in Florida seems committed to shrinking the size of the states exposures to a major hurricane, says Robert Hartwig, president of the Insurance Information Institute.