News

Rep. Gene Taylor, D-Miss., today characterized as "absurd" a decision by House officials not to allow a floor vote on an amendment to the National Flood Insurance Program that would add wind coverage to the program.

The impact is a positive one despite the outright effects on some carriers.

Fewer than half of organizations buying or providing outsourced services are able to effectively manage the associated risks, according to an industry survey.

Domestic and foreign insurers traded barbs--although the foreign insurers did so anonymously--at a congressional hearing today over whether the U.S. should tighten rules dealing with the ceding of premiums to offshore parent companies by U.S. affiliates.

Senate Democrats announced that they have the votes to secure passage of financial services reform legislation in the Senate after getting support Monday night from Sen. Olympia Snowe, R-Maine.

Bermuda reinsurers are expected to have a difficult second quarter, with a challenging near-term outlook, as pricing remains under pressure with no sign of rate increases, and profits hit by recent losses, according to a financial analyst's report.