News

A combination of continued underwriting actions and improvements in the settlement process led to Nationwide Mutual Insurance Company posting a 45 percent increase in net income for the first half of 2010 compared to last year.

Legislation introduced in the Senate on July 29, which would split the difference on "wind vs. water" claims after a hurricane, appears to be generating little support within the P&C insurance industry.

Flagstone Reinsurance Holdings said second-quarter gross losses incurred from the Deepwater Horizon oil rig disaster were $45.7 million, including its Lloyd's operation.

Marsh & McLennan Companies reported solid gains in the 2010 second quarter, improving over last year's earnings loss from the same period.

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.