The Supreme Court of California has ruled that a homeowners association cannot sue State Farm over a claim related to the Northridge earthquake while it keeps a previous settlement with the insurer.

British Petroleum (BP) said it made claim payments of nearly $400 million during the 16 weeks it managed claims related to the oil spill in the Gulf of Mexico.

Richmond, Va.-based specialty insurer Markel Corp. announced that it has promoted John Latham to president, wholesale division, and Steve Girard to executive vice president, Southeast regional operations.

CNA Financial Corp. said it has completed transferring its legacy asbestos and environmental pollution liabilities to Berkshire Hathaway's National Indemnity Company (NICO).

After surveying 683 U.S. corporate risk managers, Greenwich Associates announced the winners of its 2010 Claims Excellence Awards: FM Global, The Harford, Travelers, and Chubb.

Earnings for U.S. property/casualty insurers were down on catastrophe losses in the 2010 second quarter, but their capital positions remained solid, according to a report issued by Moody's Investors Service.

Hurricane Earl, now a Category 4 storm, hit the Caribbean and is expected to track close to the U.S. East Coast later this week as a major hurricane, according to reports.

A hurricane warning is in effect for the East Coast of the U.S. from Bogue Inlet, N.C., to the North Carolina/Virginia border as Category 3 Hurricane Earl bears down on the region.