A five-year National Flood Insurance Program extension bill passed by the House in July is unlikely to pass the Senate before the program's next scheduled expiration on Sept. 30, representatives for two Washington-based agent groups said.

The ongoing recession has hit workers' compensation carriers hard, causing nearly a quarter of the market's premiums to evaporate and cutting profitability by as much as half in the past two years, experts in the field reported here.

Regulators adopted a medical loss ratio form that leans more toward a narrow medical loss ratio (MLR) definition opposed by the industry, but the discussion revealed sharply divided opinions on the federal reforms.

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The New York State Insurance Department (NYSID) has distributed an advance copy of a draft circular letter on its planned producer compensation disclosure rule to agent groups but excluded

Among the states most affected by Hurricane Katrina five years ago, only Louisiana has taken decisive steps to adopt a statewide building code, according to the Institute for Business and Home Safety (IBHS).

Regulators' interest in insurers' use of credit-based insurance scores produced lively reaction from insurance association representatives and a consumer advocate during a committee meeting on property and casualty insurance issues.

Conglomerates involved in both the banking and insurance sectors could see stricter regulations in European Union member states, possibly by next year, if a European Commission proposal takes effect, the Commission said.