News

Facing another looming flood program expiration deadline on Sept. 30, agents are expressing frustration at Congress and are advising clients to pay renewals for flood policies in advance of the deadline in case there is another lapse.

Recommendations to the states for the collection of surplus lines taxes from insurance regulators should be in place by the National Association of Insurance Commissioners' (NAIC) November meeting, said the chairman of the NAIC Surplus Lines Task Force.

Two consumer advocates told insurance commissioners they would prefer to see regulation of insurance remain with the states, as opposed to a federal takeover.

A federal appeals court has vacated the decision by a district court three years ago to dismiss antitrust and racketeering complaints against numerous insurers and brokers allegedly involved in a bid-rigging scheme with Marsh & McLennan.

Climate change could significantly increase Caribbean hurricane risk and raise annual expected losses by another 1 to 3 percent of GDP for some Caribbean countries by 2030, according to a new study.

Allstate insurance companies in Louisiana have been approved to raise homeowners insurance rates an average of 7.3 percent statewide, according to the Louisiana Department of Insurance.