Selective Insurance Group Inc., through its subsidiaries, has purchased the renewal rights for commercial-lines excess and surplus policies written under contract binding authority by subsidiaries of Alterra Capital Holdings Limited.

The Federal Emergency Management Agency says in a letter that taking over management of more than 800,000 flood insurance policies currently administered by State Farm will save the agency more than $50 million annually, compared to the cost of the current Write-Your-Own program.

As data breaches proliferate, companies are under pressure to protect their customers, their reputations and their bottom line.

The new report on Florida Citizens Property Insurance Corp.'s revamped mitigation inspection program details changes in rates, population.

The property and casualty insurance industry’s earnings are expected to be modest for the first half of this year after insurers were hit by a series of weather-related losses, according to a financial analyst’s report.

A spike in the number of agent and broker jobs added in May drove an overall net gain of 900 jobs industry-wide for the month compared to April, according to an Insurance Information Institute analysis of U.S. Labor Department’s Bureau of Labor Statistics figures.

Insurance regulators in the U.S. have begun signing up with their international peers to push a new ERM regulation called “ORSA”—Own Risk and Solvency Assessment, says Dave Ingram, executive vice president of Willis Re.

Implementation of enterprise risk management within the insurance industry—driven by ratings agencies and anxious boards—is moving steadily forward, with large global reinsurers at the head of the adoption curve.