News

Officials of the National Conference of Insurance Legislators are reiterating their support for comprehensive legislation they drafted as the proper vehicle for implementing the surplus-lines and reinsurance law enacted by Congress last year.

Florida domestic insurers HomeWise Insurance Co. and First Home Insurance Co. say they will merge.

A group of banks seeking to prevent guaranty insurer MBIA from splitting into two companies says the company underestimated its losses by as much as $10 billion to the New York Insurance Department.

Companies’ risks are increasing during the economic recovery, which means they must be vigilant in keeping down workers’ compensation claims and wage and hour lawsuits, according to an industry briefing.

We take a breather from our Japan earthquake and tsunami coverage to look at a flood program bill mark-up, SLIMPACT news, an MBIA-related court filing, crash taxes and auto fraud in New York, and how the improving economy presents issues for risk managers.

A House panel will conduct a second hearing on the National Flood Insurance Program April 1, and mark up draft legislation April 6, according to officials briefed on the plan.