Insurance broker Arthur J. Gallagher & Co. said it has acquired Shuford Insurance Agency Inc. in Concord, N.C. Financial terms were not released.

A federal court ruling holding the Army Corps of Engineers, and the U.S. government by extension, liable for damage in New Orleans caused by Hurricane Katrina is unlikely to have much effect on the P&C industry.

Floods that hit the United Kingdom last week could cost insurers up to $165 million, the Association of British Insurers estimated.

The latest government study on Chinese drywall has revealed a "strong association" between the drywall and corrosion in homes that may physically irritate their inhabitants.

Florida Insurance Commissioner Kevin McCarty announced he had signed an order increasing rates for the state-created insurer of last resort's high risk accounts to make them financially adequate.

A group pushing for natural disaster policy reform said it is urging swift House passage of legislation providing incentives for states to develop pre-mitigation programs for catastrophic weather events.

Even if health reform passes, it will be years before it takes effect. In the interim, why not create Assigned Risk Pools for the uninsured, suggests NU Editor Sam Friedman in his blog today at www.NUSamSoapBox.com.

The National Conference of Insurance Legislators said it has adopted model legislation to prohibit "naked" credit default swaps and put "covered swaps" under state insurance regulation.