Insured damage from the worst floods in the Czech Republicin more than a decade could cost $381.35 million, the country's insurers said on Thursday.

Insured damage from the worst floods in the Czech Republicin more than a decade could cost $381.35 million, the country's insurers said on Thursday.

Life and mortgage insurer Genworth Financial Inc. said it will cut 400 jobs to reduce costs by up to $90 million a year.

It took less than a week for the first storm of the 2013 Atlantic hurricane season to be named.

The influx of alternative capital from the investment community is keeping reinsurance prices low with plenty of capacity available heading into the Atlantic Hurricane season, says reinsurance broker Guy Carpenter.

The venue for winning delays in increases in premiums for flood insurance properties is now moving to the must-do farm bill, which is being considered by the Senate this week.

Storm damage in the U.S. in May will cost insurers at least $4 billion, says Aon Benfields Impact Forecasting.

Commercial P&C rates increased 5 percent year-over-year in May for the third consecutive month, with property, general liability and workers compensation showing the steepest hikes. Personal lines rate increases accelerated to 4 percent with both homeowners and auto policyholders paying more.