News

Irene has strengthened to a Category 2 hurricane, and is expected to become a major hurricane (Category 3 or above) Wednesday as it moves north of the Dominican Republic and toward the Bahamas.

The Association of British Insurers (ABI) says it expects insured losses of more than 200 million pounds (about $328 million) from claims connected to the rioting and looting in London and other cities recently.

Allstate Insurance Co. has filed another lawsuit in New York State Supreme Court seeking to recover investment losses on residential mortgage-backed securities.

Connecticuts top insurance regulator says the United States needs to stop apologizing for its regulatory regime, stating that it has worked remarkably well through troubled times.

Merger and acquisition activity remains on the same pace it has been on for the past three years, according to a report from reinsurance broker Guy Carpenter.

Members of the National Association of Professional Allstate Agents (NAPAA) voted to affiliate with the Office and Professional Employees International Union (OPEIU) by an overwhelming majority in an effort to have more say over the future of their agencies.