Personal Lines

The Treasury Department said last night it had approved Allstate Corporation and five other insurers to get taxpayer rescue money under its multibillion-dollar Capital Purchase Program.

Fitch Ratings announced it has dropped American International Group property-casualty subsidiaries' insurer financial strength a ratings notch based on the stress of its continuing financial problems.

A modeling firm which has been projecting pandemic flu impact for the past three years says the current outbreak while growing is unlikely to cause big insurance losses.

Insurance prices are not likely to begin rising until early 2010, but federal government actions before then could mean abrupt price spikes rather than gradual shifts, an economist suggested yesterday.

The National Association of Insurance Commissioners (NAIC) climate risk disclosure survey of insurers is a valid request for information, two regulators said after the concept was attacked by a think tank.

Consumer advocate and former insurance regulator J. Robert Hunter today said in congressional testimony that the federal government should take over capital, surplus and solvency regulation of insurance.

The Obama administration has advised a key congressional panel that it "strongly opposes" adding windstorm coverage to the National Flood Insurance Program.

Aviva North America announced that Richard Hoskins has been appointed chief financial officer and executive vice president.