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The sophistication within every part of the risk-sharing process—from rate-making to underwriting to claims—has increased at a quickening pace, driven by greater precision and predictability and built on an ever-expanding amount of data.

Legislation has been introduced in Congress by Rep. Candice Miller, R-Mich, that would phase out the National Flood Insurance Program by the end of 2013.

Legislation has been introduced in Congress by Rep. Candice Miller, R-Mich, that would phase out the National Flood Insurance Program by the end of 2013.

Insured losses from winter storms in Texas are expected to be about $51 million, according to initial estimates based on input from insurers comprising the Southwestern Insurance Information Service.

Despite significant natural catastrophes in 2010, the mining market is enjoying the same soft market insurance conditions that many other industries are experiencing, according to insurance broker Willis.

Catastrophe losses helped drive an 84 percent decline in Pembroke, Bermuda-based PartnerRe Ltd.’s 2010 fourth quarter net income, and the company reported that upward revisions for New Zealand earthquake and Australia flood losses added 12 points to the combined ratio.