Commercial Lines

The Travelers Companies says third-quarter net income dropped 67 percent primarily on weather-related catastrophe claims that have rocked the insurance industry.

Two Gulf-Coast senators are seeking to remove a Senate flood-insurance legislation provision requiring flood coverage in areas already protected by levees, dams or other flood-control structures.

Two Gulf-Coast senators are seeking to remove a Senate flood-insurance legislation provision requiring flood coverage in areas already protected by levees, dams or other flood-control structures.

The eastern end of Long Island suffered the highest insured losses in the United States from late August's Hurricane Irene, followed closely by a coastal county in North Carolina, financial data company Verisk Analytics said on Monday.

As reserve releases slow, accident-year losses rise, and investment yields weaken, property and casualty insurers may need to reconsider cost reductions in the form of cutting salaries and advertising budgets to improve profitability, according to a Keefe, Bruyette & Woods industry update.

Munich Re expects further writedowns on its holdings of Greek sovereign bonds in the third quarter, its chief financial officer said on Monday.