Commercial Lines

The political and financial fallout from Superstorm Sandy will continue despite President Obama signing legislation on Sunday that will allow the National Flood Insurance Program to continue to pay claims.

Congress passed and sent to President Obama for signature today legislation that increases the borrowing authority for the National Flood Insurance Program by one-third.

House Republicans are going to let the 112th Congress expire Wednesday without action on a Superstorm Sandy relief bill that includes a 50 percent increase in the National Flood Insurance Programs borrowing authority.

House Republicans are going to let the 112th Congress expire Wednesday without action on a Superstorm Sandy relief bill that includes a 50 percent increase in the National Flood Insurance Programs borrowing authority.

After catastrophes in 2011 drove down net income for the first nine months of that year, a relatively benign first nine months in 2012 led to a rebound in insurers results, showing the large role weather plays for the insurance industry.

The House drew the nation back from the fiscal cliff Tuesday night when it approved legislation that, amongst other provisions, makes the current estate-tax policy permanent.