News

While roughly 11.0 points of catastrophe losses hit the combined ratios of Bermuda insurers and reinsurers in 2010, they still managed to report nearly 9.0 points of underwriting profit. Favorable loss reserve development from prior years helped soften the blow according to an NU data analysis.

Merger and acquisition activity for property and casualty insurers, agents and brokers heated up in 2010, as insurers sought to improve their strategic standing within the industry, according to a report from Conning Research & Consulting.

A conflict within the insurance industry over how to deal with the sensitive flood-exclusion issue is holding up House action on legislation that would reauthorize the National Flood Insurance Program.

Banks fighting the split of MBIA Insurance Corp. into two companies said they submitted affidavits from four former New York insurance superintendents stating that the N.Y. State Insurance Dept. violated its duty by allowing the insurer to make the move.

The Japan earthquake and tsunami revealed a flaw in catastrophe modelers’ planning, as modelers pointed to the fact that they did not account for the complete devastation that hit the island nation.

The global supply chain disruption as a result of the Japan earthquake can be immediately identified. Just type the phrase into your favorite search engine.