Insurance-industry officials this weekend voiced strong support for the Obama administrations request to raise the National Flood Insurance Programs borrowing authority by 50 percent.

More fidelity/crime insurance accounts are seeing rate increases as 2012 progresses, and overall, this segment of the market is described by insurance-broker Marsh as relatively stable in terms of both rate and available capacity.

The insurance industry should use Superstorm Sandy as an opportunity to review contract clarity, says Aspen Insurance CEO Mario Vitale.

The borrowing authority for the National Flood Insurance Program would be increased 50 percent, to $30.4 billion, as part of a Superstorm Sandy supplemental budget request submitted to Congress by the Obama administration late Friday.

The borrowing authority for the National Flood Insurance Program would be increased 50 percent, to $30.4 billion, as part of a Superstorm Sandy supplemental budget request submitted to Congress by the Obama administration late Friday.

Ace says it expects $380 million in fourth-quarter catastrophe losses from Superstorm Sandy, while the storm took a $95 million toll on results for Montpelier Re Holdings.

American International Group Inc will sell nearly all of aircraft leasing business ILFC to a Chinese consortium for up to $4.8 billion, in a deal that gives the fastest growing aviation market easier and cheaper access to planes.

The U.S. Supreme Court on Monday refused to hear an appeal by a taxpayer who claimed the government's 2008 bailout of the insurer American International Group Inc violated the constitutional separation of church and state.