Commercial Lines

American International Group will accrue between $3.8 billion and $5.8 billion as a result of the recent successful sale by the Federal Reserve Board of securities held in the Maiden Lane III facility, according to analysts at Sterne Agee in New York.

The National Flood Insurance Program reauthorization includes a provision that uses NOAA data and FEMA engineering formulas to resolve wind-vs.-water conflicts.

The National Flood Insurance Program reauthorization includes a provision that uses NOAA data and FEMA engineering formulas to resolve wind-vs.-water conflicts.

A storm system wreaked havoc over the mid-Atlantic region over the weekend, causing wide spread destruction, while firefighters in Colorado made some headway against a major wildfire that has consumed close to 18,000 acres and forced thousands to evacuate their homes.

The property and casualty market has firmed, Wells Fargo Insurance is telling its clients, but a separate Willis Re analysis of June 1 and July 1 reinsurance renewals shows a highly segmented approach to pricing, where rate increases are tied to loss activity on accounts rather than a hardening market.

The Reinsurance Association of America said it will start work immediately with the Federal Emergency Management Agency to implement a flood-law provision authorizing the federal agency to buy reinsurance to reduce the costs of funding the National Flood Insurance Program.