Years before Warren Buffett suggested in early May that Berkshire-Hathaway might consider offering insurance coverage for flu pandemics, a specialty insurer developed the first property-casualty product related to disease outbreaks in 2006.

The bidding war between Max Capital Group and Validus Holdings over Bermuda-based property-catastrophe reinsurer IPC Re continued this week, with Max announcing its deal has regulators' approvals.

Insurance prices are not likely to begin rising until early 2010, but federal government actions before then could mean abrupt price spikes rather than gradual shifts, an economist suggested yesterday.

With flu insurance developing as a news topic, a Virginia-based insurer is reminding that it has offered the coverage for several years.

A first-quarter jump of 38 percent in securities cases is worrisome to insurers of directors and officers named as defendants in such cases, but the pace of filings could slow, a research firm said.

The American Association of Managing General Agents is gearing up for its annual meeting in Boca Raton, Fla., later this month, drawing its members to the gathering with the promise of networking opportunities.

The board of IPC Holdings urged its shareholders yesterday to ignore the statements and actions of Validus Holdings, which has been attempting to acquire the firm despite IPC's agreement to sell to Max Capital.

In its second announcement this week on the subject, Validus Holdings today outlined steps to speed up its efforts for a hostile takeover of IPC, which is backing an alternative deal with Max Capital.