Commercial Lines

Besides renewal of the current Terrorism Risk Insurance Program Reauthorization Act, the insurance industry is asking Congress to expand and clarify the law to fill gaps in certification and coverage areas.

The MGA business model has changed and become more stable since the 1990s and early 2000s, when the market entered a period of volatility due to MGAs association with the failures of multiple insurers, says a new report.

The Florida Office of Insurance Regulation issued a Consent Order to Praetorian Insurance Company, the states second largest force-placed insurance provider, requiring the insurer to modify its business practices related to this type of coverage.

The western U.S. has seen more and bigger wildfires over the last 30 years, a trend expected to continue as temperatures rise and droughts become more severe, according to a new study.

Buildings swayed in Mexico City and some neighborhoods lost power after a 7.5-magnitude earthquake struck about 164 miles southwest of the capital of Latin Americas second-largest economy.

The private market does not have the capacity to provide reinsurance for terrorism risk to the extent currently provided by the Terrorism Risk Insurance Act, according to a special presidential report issued today.