Property and casualty insurance industry sources said they believe a revenue-hungry Congress will finally decide to impose higher taxes on offshore-based insurers.

An Oregon senator is proposing an amendment to financial services legislation significantly limiting the Treasury Department's authority to negotiate international insurance trade agreements.

H.W. Kaufman Financial Group, a privately held group that includes wholesale broker Burns & Wilcox, acquired US-Reports, a Colorado-based loss control inspection, premium audit and risk management services firm.

The losses from the Deepwater Horizon Drilling Platform explosion are not expected to significantly impact the insurance marketplace or buying behaviors, a brokerage executive said.

A dozen Bermuda reinsurers that released first-quarter 2010 earnings over the last week were hit hard by $1.4 billion in catastrophe losses, primarily related to the earthquake in Chile.

Companies facing claims from the Gulf of Mexico oil rig disaster are insured for losses totaling about $1.4 billion, the Insurance Information Institute reported.

Yesterday's article "Marsh & McLennan Agency Acquires Bostonian Group," incorrectly listed Insurance Alliance as Marsh & McLennan Agency's second acquisition. It was the fourth acquisition. Bostonian Group is MMA's fifth acquisition.

The world of insurance journalism lost one of its most talented and dedicated players with the retirement last week of Steve Piontek, editor of NU's life and health insurance edition, says NU P&C Editor Sam Friedman in his blog at www.NUSamSoapBox.com.