News

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.

A new report by Conning Research & Consulting offers a gloomy view on growth prospects for the property and casualty industry, and an industry analysis from Keefe, Bruyette & Woods (KBW) suggests insurers reconsider cost reductions, including reducing salary, to improve profitability in the face of economic and market challenges.

An 8-year veteran of the New York City Police Department has been charged with violating the civil rights of another, attempted violent extortion and attempted insurance fraud.

Swiss Re Capital Markets says it has placed a $247 million catastrophe bond for European windstorm risks.

BB&T Corp. says income from its insurance-services segment dropped 4 percent in the third quarter, but the company expects to see improvement in the fourth quarter.

Corporate interests and the plaintiffs bar are using a new Government Accountability Office study on asbestos trusts to renew their battle over whether the trusts should be required to be more specific in disclosing claims-settlement data.