The clearinghouse that is the core of the Nonadmitted Insurance Multistate Agreement (NIMA) tax-sharing compact is set to begin operation July 1, according to the 11 states and territories that comprise it.

While the excess-and-surplus-lines sector is maintaining good profitability and strong balance sheets, challenges from high catastrophe exposures and low interest rates remain, says a report from Moodys Investors Service.

Insurance-industry officials say a two-year National Flood Insurance Program (NFIP) extension, as proposed recently by the Federal Emergency Management Agency (FEMA), is better than the current pattern of short-term extensionsbut some associations say they would still rather see action on a five-year extension with program reforms.

Insurance industry officials say a two-year National Flood Insurance Program extension, as proposed recently by the Federal Emergency Management Agency, is better than the current pattern of short-term extensions, but some associations say they would still rather see action on a five-year extension with program reforms.or five-year extension

Insurance industry officials say a two-year National Flood Insurance Program extension, as proposed recently by the Federal Emergency Management Agency, is better than the current pattern of short-term extensions, but some associations say they would still rather see action on a five-year extension with program reforms.or five-year extension

The Federal Emergency Management Agency today asked Congress to support a two-year reauthorization of the existing National Flood Insurance Program as the clock continues to wind down on the current authorization, which expires May 31.

The Federal Emergency Management Agency today asked Congress to support a two-year reauthorization of the existing National Flood Insurance Program as the clock continues to wind down on the current authorization, which expires May 31.

Insurance agents selling flood-insurance policies will no longer be allowed to cede a portion of their commissions to property owners to induce them to purchase insurancea practice known as insurance rebating.