News

Willis Group Holdings reported a 2 percent increase in 2010 second quarter net income as it increased organic growth by 4 percent despite the headwinds of a soft market and continued challenges from the economic downturn.

Bermuda-based reinsurer, Everest Re Group Ltd. reported a 42.5 percent drop in 2010 second quarter net income, while also announcing that Chief Executive Officer Joseph V. Taranto will retire as of Dec. 31.

The majority of the American public is not overly supportive of legislation allowing policyholders to file first-party bad-faith lawsuits, the Insurance Research Council (IRC) said in a new report.

As Rep. Gene Taylor, D-Miss., continues to lobby the House for his bill adding wind to the National Flood Insurance Program (NFIP), another bill in the Senate seeks a compromise to settle the "wind vs. water" issue.

Legislation introduced in the Senate today that would split the difference on wind vs. water claims after a hurricane appears to be generating little support within the property and casualty insurance industry.

The National Association of Insurance Commissioners (NAIC) is looking for a vendor to model expected insurer losses for commercial mortgage-backed securities (CMBS) in an effort to