News

As regulators prepare to implement the new financial services reform law, a House member sought to clarify the legislative intent of surplus lines provisions in a recent floor statement.

The continuing soft market is weakening the credit quality of property and casualty insurers, making their future "problematic," with no turnaround in sight, according to an analysis by Moody's Rating Service.

While property and casualty premium gain is expected for 2010, it will likely lag the real gross domestic product growth rate as commercial lines pricing continues to be soft.

As insurers report increases in 2010 catastrophe losses, many times due to storms with hail, an analysis by the National Crime Insurance Bureau (NICB) reveals a 107 percent increase in questionable claims referrals for hail damage claims.

Virginia Attorney General Kenneth Cuccinelli has won a chance to get a hearing on arguments that new federal health coverage ownership rules are unconstitutional.

The Deepwater Horizon oil rig explosion and spill is not a "watershed" event for the property and casualty industry despite an expected $4-to-$6 billion in commercially insured losses, Towers Watson said.