Markets

Using reinsurance could reduce the burden of the National Flood Insurance Program on taxpayers, the head of the Reinsurance Association of America said.

The industry should “stay tuned” as the revised catastrophe model from Risk Management Solutions rolls out, the chief executive officer of RenaissanceRe told NU Online News Service, describing the model changes and potential market impacts as meaningful.

State legislators and regulators “have a ways to go” to ensure that the surplus lines reform law goes into effect as mandated by Congress in July, the head of the National Association of Professional Surplus Lines Offices said.

The antics of major Hollywood actor Charlie Sheen have resulted in the cancellation of a multimillion-dollar production and put an entire cast and crew out of work, begging the question: Can this actor still be insured?

While debate rages over the future direction of the overall property and casualty insurance market, one recent broker survey of a niche market—architects and engineers professional liability—indicates rates could see upward momentum this year.

In a soft market, excess and surplus-lines executives have managed to identify some growth areas and have found the time ripe for technology investments and recruiting talent. But survival demands innovation.

Losses from a magnitude 6.3 earthquake that struck Christchurch, New Zealand Feb. 21 (Feb. 22 local time) could total as much as $12 billion, according to one estimate cited in a note to clients from a JP Morgan Chase & Co. analyst.

Construction-insurance pros see some signs for market improvements in 2012 and 2013, as the economy recovers and projects continue in key industries, such as health care and education. A second round of stimulus funding would also help.