Commercial Lines

Personal lines insurers and their captive and independent agents will be paying close attention this week as the House works to craft a politically acceptable bill that will delay or reduce National Flood Insurance Program premium increases mandated by a 2012 law.

A group led by former AIG boss Maurice "Hank" Greenberg's Starr Investment Holdings said it would buy health insurance claims processor MultiPlan Inc.

The National Corvette Museums agent is happy with how coverage was placed and says there are no coverage concerns regarding the sinkhole that claimed eight vehicles Wednesday morning. Meanwhile the last remaining 1983 Corvette continues its remarkable survival as it avoids damage in the incident.

American International Group president and CEO Robert Benmosche said he will focus on improving the companys balance sheet and rewarding shareholders after the company reported strong earnings, although the companys property and casualty business combined ratio remained over 100.

Personal auto remains competitive as monoline insurers drive down rates, but increases available for homeowners and, so far, for commercial risks.

Zurich Insurance missed profit expectations in the fourth quarter due to restructuring charges, and said the total cost of an overhaul of its business would be about $600 million - the upper end of its forecast range.