Representatives from Citizens Property Insurance faced tough questioning from the Florida Office of Insurance Regulation over proposed rate increases for high-risk wind-only coverage, including a 7.5 percent increase for homeowners.

California Insurance Commissioner Steve Poizner rejected a 22.8 percent workers' compensation insurance rate increase request yesterday, vowing the rate won't change "one dime" until insurers address avoidable costs in the system.

The National Association of Insurance Commissioners has approved a proposal to develop a new model for rating residential mortgage-backed securities (RMBS) held by insurers.

The New York Insurance Department is continuing efforts to revive the New York Insurance Exchange, with an "ambitious" goal of having it ready in 2010, an official said.

Max Capital Group Ltd. reported third-quarter net income of $95.3 million, compared to a 2008 third-quarter net loss of $163.2 million.

CNA Financial Corporation reported third-quarter net income of $263 million, a $594 million improvement over a net loss of $331 million for the period last year.

A federal report on Chinese drywall found it contains higher concentrations of bothersome chemicals, but said these would not cause the health issues or physical degradation that have been seen.

In a dramatic turnaround from its 2008 third quarter net loss of $126.1 million, Aspen Insurance Holdings Limited reported third quarter net income of $144.7 million.