News

The reinsurance industry can financially withstand the losses from Japan’s Tohoku earthquake, but the compounding of losses from Australia and New Zealand is putting strain on reinsurers and having some price impact, according to a Guy Carpenter report.

The reinsurance industry can financially withstand the losses from Japan’s Tohoku earthquake, but the compounding of losses from Australia and New Zealand is putting strain on reinsurers and having some price impact, according to a Guy Carpenter report.

The Florida House voted unanimously in favor of a bill to further rate deregulation for the commercial insurance industry in the state.

A South Carolina bill that would define an “occurrence” in construction general liability insurance contracts in a way opposed by the insurance industry passed the Senate, and an insurer group is seeking to delay action in the House until the courts weigh in again.

Hamilton, Bermuda-based insurer Ariel Reinsurance Co. says it expects first-quarter catastrophe events will cost the company between $35 million and $50 million, but it expects to report positive net income for the period.

Hamilton, Bermuda-based insurer Ariel Reinsurance Co. says it expects first-quarter catastrophe events will cost the company between $35 million and $50 million, but it expects to report positive net income for the period.