International sports federations will be insured for up to $100 million in the event the 2012 London Olympics are canceled because of war or terrorism.

Kentucky Farm Bureau Mutual Insurance Company and Guidewire Software announced that KFB is live on Guidewire PolicyCenter. RACQ Insurance has selected Guidewire Insurance Suite as its new policy administration and billing platform. This builds on RACQ’s existing investment in Guidewire’s core system suite.

Kentucky Farm Bureau Mutual Insurance Company and Guidewire Software announced that KFB is live on Guidewire PolicyCenter. RACQ Insurance has selected Guidewire Insurance Suite as its new policy administration and billing platform. This builds on RACQ’s existing investment in Guidewire’s core system suite.

The Insurance Institute for Business & Home Safety recently conducted the first-ever full-scale wildfire demonstration at its research center. Watch the destruction take place.

Foreign reinsurers may be permitted to post less collateral when doing business in New Jersey with legislation signed by Gov. Chris Christie that gives regulators the ability to cut previous full-collateral requirements.

Last year was a costly one in terms of dollars and human life as insurers saw catastrophe losses increase by 59 percent from the previous year, according to a Swiss Re report.

The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.

Lloyd’s says its 2010 before-tax profits dropped nearly 42 percent to £2.19 billion ($3.44 billion at current exchange rate) compared to £3.87 billion ($5.9 billion) in 2009.