News

Insurers are beginning to size up the extent of damage left in the wake of storms that produced dozens of tornadoes that struck several Central Plains states, hail that caused damage in Texas, and strong winds and lightning in Georgia.

The earthquake in Japan and two other major losses for insurers have put the brakes at least for now on the soft-market pricing trend in the energy-insurance market, says a report from Willis Group.

The value of insurance-linked-securities (ILS) placements increased by more than half in the 2011 first quarter as four insurers placed more than $1 billion in bonds in the market, according to a report from Willis Group.

A Texas judge has upheld an order against State Farm to refund $310 million to policyholders for alleged excessive rates from as far back as 2003.

The legislation reauthorizing the National Flood Insurance Program, passed by a House panel last week, clearly opens the door for reinsurers to play a strong role in the program.

As more companies report estimated losses for the March 11 Japan earthquake and tsunami, a couple of Bermuda executives say that a market turn is beginning to occur.