The insurance industry is lauding the new trade pact reached between the U.S. and South Korean governments.

The insurance industry is lauding the new trade pact reached Friday between the U.S. and South Korean governments.

Representatives of foreign and domestic insurance and reinsurance trade groups are suggesting that one means of reforming the National Flood Insurance Program (NFIP) is privatizing all or part of it.

The co-chairmen of the deficit commission appointed by President Obama proposed "aggressive tort reform" as one of its recommendations for reducing the federal budget deficit.

The National Conference of Insurance Legislators (NCOIL) appears set to win the support of another state legislative trade group for its interstate compact designed to implement the surplus lines reform law passed by Congress earlier this year.

Jacqueline Cunningham has been appointed Virginia's new insurance commissioner by the State Corporation Commission.

Representatives of foreign and domestic insurance and reinsurance trade groups are suggesting that one means of reforming the National Flood Insurance Program (NFIP) is privatizing all or part of it.

Two Democratic senators Tuesday introduced legislation in the current lame-duck session that would delay for five years a mandate that homeowners included in new flood zones buy "market-based" insurance policies.