News

Whether State Farm captive agents will continue to be allowed to service flood-insurance policies currently placed through them will be on the agenda when the full House Financial Services Committee takes up legislation reauthorizing the National Flood Insurance Program (NFIP).

Storms that spawned deadly tornadoes in the South from April 19 to April 27 are expected to cause between $2 billion and $5 billion in insured losses, according to modeling firm EQECAT.

Insurers need to step-up their compliance knowledge of sanctions if they want to avoid a fate similar to HHC Insurance Holdings, which paid a fine of over $38,000 for insuring aircraft used in Iran.

Catastrophe losses drove a 77 percent drop in net income for Markel Corp. as the company dealt with exposures to natural disasters in Australia, New Zealand and Japan.

Insurer groups hailed the Florida Legislature’s passage of a wide-ranging property bill and have called on the governor to sign the legislation into law.

A former New York prison guard whose police-recruit girlfriend disappeared in Florida in March has been charged with faking an injury so he could retire on disability.