Recent concerns over public entities' credit quality is not expected to materially impact U.S. property and casualty insurers' capital position, despite the insurers' heavy investments in municipal bonds, Fitch said.

The Obama administration said it opposes legislation that would add wind coverage to the National Flood Insurance Program.

The Travelers Companies Inc. experienced a 9 percent drop in 2010 second quarter net income when compared to the same period last year as $439 million of record pre-tax catastrophe losses cut into profits.

Insurance broker Marsh, a subsidiary of Marsh & McLennan Companies, said its specialist international placement broker Bowring Marsh has opened an office in Asia--the company's ninth office.

A tropical depression is expected to intensify to a tropical storm and enter the Gulf of Mexico late Friday, which could complicate efforts at the British Petroleum oil spill site.

A recent tech security survey for the financial services sector might give the impression that the insurance industry has awakened to the threat of cyber-risks, but one analyst warns that there remains much room for improvement.

State insurance regulators and legislators have a long way to go to implement a federal law that goes into effect today and is meant to modernize surplus-lines regulation.

Weather Services International (WSI) is now calling for 19 named storms, slightly downgrading its initial predictions in response to a slow start to the 2010 hurricane season.