E&S/Specialty

The National Flood Insurance Program is likely to run out of money to pay Superstorm Sandy claims, meaning it will probably need Congress to authorize a loan, a FEMA official says.

Zurich Insurance Group recorded a bigger-than-expected fall in third-quarter net profit after a blow to its German general insurance business, sending its shares to a three-month low on Thursday.

Assurant is likely to join Chubb as an insurance company forced to suspend stock buybacks as a result of Superstorm Sandy losses.

Assurant is likely to join Chubb as an insurance company forced to suspend stock buybacks as a result of Superstorm Sandy losses.

A ban on European Union insurers covering Iranian oil exports has forced shipowners to fall back on new, untested insurance providers, raising fears that governments may have to pay in the event of an oil spill.

Agent and broker employment in September experienced an expected decline, but the size of the drop was unusual, according to Insurance Information Institute President Robert Hartwig.