Despite the size of its nonlife insurance market, Japan insurance penetration is very low, particularly in commercial and industrial lines, said modeler Risk Management Solutions.

American International Group has offered to buy mortgage-backed securities held by the Federal Reserve Bank of New York for $15.7 billion.

It is urgent that certainty be created in the National Flood Insurance Program by enacting a long-term extension of the program, insurance industry trade groups told Congress.

The Florida Office of Insurance Regulation has suspended the license of domestic automobile insurer Seminole Casualty Insurance Company, which has reported a negative surplus.

After a panel of excess-and-surplus lines industry leaders recently expressed concerns about insurers abandoning the wholesale-distribution channel, two E&S carrier executives reiterated their commitment to both wholesaler brokers and surplus-lines business.

Kane, which provides specialist risk and insurance management services, announced today it has signed an agreement to acquire the insurance management operations of HSBC for $27.5 million.

Miami still number one in Medicare spending; 35 percent over national average.

Shares in some of the world's biggest reinsurance companies took a pounding Friday on fears that the earthquake in Japan and the subsequent tsunami will cost them dearly.