News

Earnings for U.S. property/casualty insurers were down on catastrophe losses in the 2010 second quarter, but their capital positions remained solid, according to a report issued by Moody's Investors Service.

Hurricane Earl, now a Category 4 storm, hit the Caribbean and is expected to track close to the U.S. East Coast later this week as a major hurricane, according to reports.

A hurricane warning is in effect for the East Coast of the U.S. from Bogue Inlet, N.C., to the North Carolina/Virginia border as Category 3 Hurricane Earl bears down on the region.

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The Senate is expected to take up a measure to limit a stringent tax-reporting mandate scheduled to go into effect in 2012 as part of health care reform.

Columbus, Ohio-based Grange Insurance said it has promoted Elizabeth Dinnin to president of commercial lines.