News

Despite the casual nature of social media sites such as Facebook and LinkedIn, the use of social media is subject to state insurance laws that govern advertising and unfair trade practices.

As Congress considers ways to resolve wind-versus-water damage disputes, the U.S. House of Representatives for the second time in two weeks opted not to act on a bill that would add windstorm coverage to the National Flood Insurance Program.

The federal government may sell its stake in American International Group through a public stock offering sometime after 2013, according to the Government Accountability Office.

Despite being trapped in a stubborn soft market and an economy with fewer insurable exposures, the country's biggest commercial insurance brokers reported some positive results for the second quarter.

Creation of an optional federal charter for insurers will be on Congress' 2011 agenda because it has strong bipartisan support, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, has told state insurance legislators.

The California Workers' Compensation Insurance Rating Bureau (WCIRB) will likely recommend an average rate increase of around 30 percent to the state's insurance department later this year.