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The number of meteorological catastrophe-driven events is increasing, causing more losses internationally, but insurers have proven themselves financially capable of handling those losses, according to experts.
President Obama has ignited a political firestorm by using the recess appointment process to make Dr. Donald Berwick administrator of the Centers for Medicare and Medicaid Services.
The New York State Insurance Department will hold a hearing in August to discuss further expanding the state's excess and surplus lines "export list" after adding coverages to the list last year.
Chicago-based insurance broker Hub International Ltd. said its transportation insurance operation unit has acquired the retail book of business from Maple Leaf Insurance Agency Inc. of Bremerton, Wash.
Reinsurers and insurers have paid out less than $1 billion on British Petroleum oil spill claims, and the total market loss is expected to be between $3.25 billion and $4 billion, said Holborn Corp.
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