News

Catastrophe risk modeling firm EQECAT says insured losses for the Joplin, Mo. tornado—the deadliest twister in more than 60 years—could be between $1 billion and $3 billion.

Insurers are once again responding to a community reduced to debris by a massive tornado, this time in Joplin, Mo.

Tokio Marine Group, based in Japan, will form a new U.S. holding company that will become the new parent for all of the group’s North American entities.

The Hartford Insurance Group is selling Federal Trust Bank, the Florida thrift it acquired in early 2009 as a prerequisite to receiving federal aid under the Troubled Asset Relief Program.

The Independent Insurance Agents & Brokers of New York reports it will file its appeal of a court decision upholding Regulation 194 in the next several weeks.

The property-insurance reform bill recently passed in Florida will help improve insurers’ bottom lines, but large homeowners insurers are unlikely to expand their presence in the state due to continued competition from the insurer of last resort, according to Moody’s.