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Although municipal bonds make up 27 percent of the investment portfolios of property and casualty insurers, even bond losses of $2 billion to $4 billion that could result from extreme stress scenarios are expected to be manageable, Moody's reported.
The Physician Insurers Association of America is pointing to conclusions by two bipartisan panels for medical malpractice reform as support for its views
Florida insurance brokerage Baldwin Connelly has announced it will be "transitioning into two new firms with separate ownership" effective December 31.
State regulators and legislators today failed to reach agreement on a model law needed to implement the federal legislation reforming and modernizing regulation of the surplus lines and reinsurance industries.
Federal regulators established as federal law medical loss ratio guidelines that largely track the guidelines approved by the National Association of Insurance Commissioners on Oct. 21.
American International Group could be looking to sell AIG Rail Services, the company's rail car subsidiary based in Chicago, according to a report in the Wall Street Journal.
Liberty Mutual Chairman and Chief Executive Officer Edmund "Ted" Kelly said only strong companies that recognize global business opportunities will succeed because they will be poised to take advantage of the market.
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