News

Lloyd's joins 16 other companies as an approved reinsurer under the reduced collateral rule.

Lloyd's joins 16 other companies as an approved reinsurer under the reduced collateral rule.

The National Flood Insurance Program (NFIP) will continue without a lapse, at least for six weeks, as the House acted on a continuing resolution to keep the government funded through Nov. 18.

Nationwide Mutual Insurance Co. will acquire Harleysville Mutual Insurance Co. in a deal valued at around $800 million.

Catastrophes caused significant 2011 first-half underwriting losses for U.S. property-and-casualty insurers, driving the industrys net income for that time period to $6.9 billiondown 67 percent relative to the year before, according to an A.M. Best special report.

State Farm will be raising rates by a statewide average of 5 percent in Alabama, but rates in the states two coastal counties will remain flat for the most part.