News

Validus Holdings, Ltd. says losses from April and May storms in the United States could top $75 million.

Allstate Insurance has filed another lawsuit in New York—this time in an attempt to get back $1 million from 10 psychological services facilities that alleged were never eligible to get insurance payments.

North Dakota Rep. George Keiser has applied for a spot on the Federal Advisory Committee on Insurance, says the National Conference of Insurance Legislators.

Over 30 people in South Texas developed a scheme with two doctors south of the border, resulting in the collection of $3 million in fraudulent insurance payouts.

New York lawmakers have sent to the governor a commercial-deregulation bill that allows insurers to go to market with some policies before regulatory approval, while Florida Gov. Rick Scott has signed into law a commercial-dereg bill in that state.

Property and casualty excess capital remains robust, although it has declined since July 2010, an analysis shows, while a separate analysis strictly on reinsurers shows a 6 percent decline in capital for the 2011 first quarter as companies contend with, among other issues, insured catastrophe losses.