Specialty insurer RLI Corp. reported a 9.8 percent decline in 2010 third-quarter net income compared to the 2009 third-quarter net income, driven in part by a rise in loss and settlement expenses.

Florida's insurance commissioner said the insurance industry has gone through a radical period of change in the past year and has come out showing the state-based system of regulation can withstand the worst of economic turmoil.

Up to 17 new insurance commissioners could take office as a result of the Nov. 3 elections, several state legislators cautioned Sunday at a meeting held in conjunction with the American Council of Life Insurers' annual meeting in Baltimore.

In the Philippines, thousands evacuated and farmers rushed to harvest as many crops as possible as Super Typhoon Megi made landfall with maximum sustained winds of about 140 miles per hour.

The German insurance industry rebounded effectively from the global economic downturn, although growth has been limited by underwriting conditions and catastrophe losses, according to a Moody's Investors Service analysis.

Allstate Corp. said it has reached a $10 million multi-state agreement to create what it calls an "education fund" for regulators.

Florida Insurance Commissioner Kevin McCarty said he would approve a 7.8 percent workers' compensation rate increase after the National Council on Compensation Insurance (NCCI) asked for an 8.3 percent hike.

A Clever, Mo., man was charged with wire fraud, conspiracy to commit bank fraud, and two counts of bank fraud for making false cattle theft claims.