ACE Ltd. said it has completed its acquisition of Johnston, Iowa--based managing general agency Rain and Hail Insurance Service, Inc. for approximately $1.1 billion in cash.

Allstate Insurance Co. filed a federal lawsuit against Countrywide Financial Corp. seeking damages related to its purchases of more than $700 million in mortgage-backed securities from the lender.

Claims Magazine is twittering every day about breaking news and timely topics--not to mention keeping readers up to date on what's being posted on claimsmag.com.

Proposed changes in U.S. accounting standards aimed at bringing them in line with those used by European firms would "radically transform" the accounting methodology used by property and casualty and life insurers.

The planned revision of a catastrophe model set for early spring 2011 could impact reinsurance pricing on Jan. 1, and property insurance prices in coastal and inland areas, according to an analyst.

More than two years after Hurricane Ike made landfall at Galveston, Texas, insurers continue to receive claims from the storm, according to the Insurance Council of Texas.

A recent analysis from the National Insurance Crime Bureau (NICB) suggests that car thieves operate on a business-as-usual mentality during the holidays.

Workers' compensation insurers and reinsurers are operating in a risky environment according to a Moody's Investors Service report.