U.S. property and casualty insurers intend to invest in claim technology over the next two years, mostly to ensure customer satisfaction, according to a Towers Perrin survey of claim officers.

Standard & Poor's Ratings Services has downgraded municipal bond insurer Ambac Assurance Corp. after the company reported its losses on credit derivatives increased by about $1.6 billion in the second quarter of this year.

Claims Magazine is twittering every day about breaking news and timely topics -- not to mention keeping readers up to date on what's being posted on claimsmag.com.

Pembroke, Bermuda-based RenaissanceRe Holdings, Ltd. reported second-quarter net income of $271.2 million, nearly a 100 percent increase over the $135.7 million reported for the period in 2008.

A new Pennsylvania firm, Essent Guaranty Inc., said it has received approval from regulators in that state and will become the first insurer of U.S. private mortgages since the financial crisis began.

A consumer group representative and a law professor told a Senate panel that they think the federal government should help regulate the insurance industry.

The combination of the financial crisis and a synchronized global downturn has had a dramatic impact on the willingness of companies to take risks in order to grow their business, according to a new report by Lloyd's.

The House has passed legislation extending the National Flood Insurance Program, that was due to expire in two months, until March 31, 2010.