Reinsurance

In Florida, when selling excess of loss coverage for residential risks, incorporating the effect of the Florida Hurricane Catastrophe Fund adds complexity to otherwise straightforward deals. This makes underwriting property catastrophe reinsurance in the Sunshine State a uniquely difficult undertaking.

The National Association of Mutual Insurance Companies is urging the Obama administration to reform--but not privatize--the National Flood Insurance Program.

Aon Benfield has agreed to serve as placement advisor to a new sudden oil spill consortium formed to deliver larger liability limit coverage for deepwater drilling in U.S. waters, Aon and Munich Re announced.

Local reinsurers are expected to benefit from new regulations in Brazil that require local insurance companies to cede 40 percent of reinsured risk to local reinsurers, according to Moody's Credit Outlook.

Passage of comprehensive financial services reform legislation that for the first time gives the federal government some voice in regulating the property and casualty insurance industry was clearly a major milestone.

Workers' compensation insurers and reinsurers are operating in a risky environment similar to the one in the late 1990s that "put a number of workers' comp [insurers and reinsurers] into the grave," according to a Moody's Investors Service report.