Homeowners with flood insurance are less satisfied with their policy coverage than those who opt not to carry it, according to a satisfaction survey of homeowners insurance released by J.D. Power and Associates today.

The courting process between agents and carriers continues as producers refuse to abandon business to direct writers.

The insurance brokerage business of South Africa-based Alexander Forbes will be acquired by insurance broker Marsh, a subsidiary of Marsh & McLennan Companies

The insurance brokerage business of South Africa-based Alexander Forbes will be acquired by insurance broker Marsh, a subsidiary of Marsh & McLennan Companies

Two rating agencies say the property and casualty insurance industry can handle losses from Hurricane Irene, but question whether more losses this hurricane season could change that scenario.

Two rating agencies say the property and casualty insurance industry can handle losses from Hurricane Irene, but question whether more losses this hurricane season could change that scenario.

Hurricane Irene should not cause significant losses for commercial insurers, but it shows that the Northeast is susceptible to tropical cyclones, justifying recent rate increases in the region, says Duncan Ellis, U.S. Property Practice Leader for insurance broker Marsh.

Citing an increased risk of winds and high waters from Hurricane Irene, New York City Mayor Michael Bloomberg has issued a mandatory evacuation order for large parts of the city.