Swiss Re and Lloyd's are warning the Treasury Department that the current federal terrorism risk insurance program is underpinning the market, and ending the program would likely substantially limit private market capacity for terrorism risk coverage.

As about a half a billion eggs have been recalled due to possible salmonella infection, it is likely recall contamination insurance coverage has been triggered.

"Tropical Depression Seven" has become Tropical Storm Earl, and the system is expected to become the third Atlantic hurricane by early Saturday, according to the National Hurricane Center.

Boston-based insurance broker William Gallagher Associates (WGA) said it has acquired Paradigm Associates, a health and welfare benefit plan consulting group headquartered in Braintree, Mass.

Fitch Ratings said it has upgraded the outlook on its "A" rating of SCOR SE and its subsidiaries to "positive" from "stable" to reflect "the resilience of the group's financial strength."

For eight years United States Fidelity & Guaranty Company (USF&G), now part of Travelers Cos., had been looking to recoup from reinsurers about half of a $987 settlement with an asbestos policyholder.

The WTC Captive Insurance Company announced it would extend the Sept. 8, deadline to opt in to its settlement for two months, until Nov. 8, to give plaintiffs more time to consider whether to accept.

A group that represents North American chief financial officers of insurers and reinsurers said the International Accounting Standards Board (IASB) has proposed