News

State regulators and legislators today failed to reach agreement on a model law needed to implement the federal legislation reforming and modernizing regulation of the surplus lines and reinsurance industries.

The New York State Supreme Court in Albany County has rejected the arguments of two agent associations that the state insurance department's planned producer compensation disclosure regulation is arbitrary and unnecessary.

The U.S. residual property insurance marketplace continued to grow despite the economic downturn, according to a report issued by the Insurance Information Institute.

QBE Insurance Group today announced its acquisition of the U.S. insurance operations of Bermuda-based RenaissanceRe, including Iowa-based crop insurer Agro National, for approximately $275 million.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) said it has made $12.6 million in insurance payments to the governments of Barbados, Saint Lucia, and St. Vincent and the Grenadines, following Hurricane Tomas.

Research on climate change is ongoing, but risk management evaluation and strategies need to begin now to avoid the consequences of escalating property loss, according to a study by AER and AIR Worldwide.