Hurricane Rina has weakened to a Category 1 storm and is expected to weaken further over the next two days, contrary to earlier forecasts that had the storm strengthening to a Category 3 storm.

A hurricane warning is in effect for the east coast of the Yucatan Peninsula, from north of Punta Gruesa to Cancun, as Hurricane Rina bears down on the region.

A hurricane warning is in effect for the east coast of the Yucatan Peninsula, from north of Punta Gruesa to Cancun, as Hurricane Rina bears down on the region.

While property and casualty insurers are excitedly discussing the prospect of 2012 rate increases and improving loss ratios, the net impact of such a development will likely be tempered by expectations of low investment yields, according to analyst firm Keefe, Bruyette & Woods.

While property and casualty insurers are excitedly discussing the prospect of 2012 rate increases and improving loss ratios, the net impact of such a development will likely be tempered by expectations of low investment yields, according to analyst firm Keefe, Bruyette & Woods.

Tropical Storm Rina has formed in the western Caribbean, becoming the 17th named storm of the 2011 Atlantic hurricane season.

A new report by Conning Research & Consulting offers a gloomy view on growth prospects for the property and casualty industry, and an industry analysis from Keefe, Bruyette & Woods (KBW) suggests insurers reconsider cost reductions, including reducing salary, to improve profitability in the face of economic and market challenges.

New accounting rules effective in the 2012 first quarter will impact life insurers more than property and casualty companies, says Moodys Investors Service, and the rules, by themselves, will not impact the rating agencys view of insurers creditworthiness.