News

GAO Officials cautioned members of the Senate Banking Committee Wednesday that major changes in NFIP's policies and administration are needed, and could involve tough decisions that Congress may be unwilling to make.

The Independent IIABNY said it will hold a series of information sessions for insurance producers to help prepare them for the state's disclosure regulation, scheduled to take effect Jan. 1.

Members of President Barack Obama's team are reportedly extending an olive branch to the "fat cats" in banking and on Wall Street. Why not insurers as well, wonders NU Editor Sam Friedman in his blog at www.NUSamSoapBox.com.

Modeler AIR Worldwide said insured losses from Hurricane Karl, which struck Mexico twice last week, will be in the range of $100 million to $200 million.

Insurance broker Willis Group Holdings said The Willis Foundation, a nonprofit corporation affiliated with the firm, is kicking off a $1 million charity drive with a relay race in Chicago.

Bermuda, preparing for the worst, lucked out when Hurricane Igor's wallop was not as strong as anticipated.