Disallowing the tax deduction for reinsurance between affiliated entities would have a "detrimental effect on U.S. consumer" and lead to higher insurance premiums, the head of a trade group representing European insurers said.

A federal probe into whether state insurance regulators are overstepping their authority when it comes to risk retention groups is being hailed by a national self-insurance group.

There appears to be no relief for insurers in the buyer's market for commercial property and casualty coverage, as excess capacity and falling demand have prompted average rate cuts to accelerate.

Putting a crisis plan in place to deal with a catastrophe is not enough--the program must be regularly tested, revised and treated as a "living document," risk management experts advised during a recent webinar.

Almost two years after Hurricane Ike nearly wiped out the town of Galveston, Texas, the Texas Windstorm Insurance Association has agreed to pay an estimated $189 million to policyholders whose homes were destroyed by the storm.

President Barack Obama signed financial services reform into law last week, setting in motion an intense effort by interested parties to shape the regulations and government bodies that will implement the legislation to their liking.

The House passed a five-year extension of the National Flood Insurance Program, but a concurrent causation amendment is prompting fierce industry opposition, and it is unclear whether the Senate will even take up the measure this year.

After several years of doing without contingent commissions, insurance broker Aon said it plans to begin accepting bonus compensation from carriers once again.