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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.

New Jerseys top insurance regulator says he is satisfied with the industrys response to Sandy at this point, noting that the department has received no more than four written complaints from consumers so far.

S&P believes reinsurers can withstand losses well outside the range of current estimates, but says some market participants believe loss amounts could be 30-50 percent higher than estimated due to the hurricane-deductible debate in some states.

A survey of Sandy's hardest-hit areas reveals a high frequency of low-severity direct wind damage will add up to about $12 billion in wind losses.

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