News

Mississippi Gov. Haley Barbour's veto of $20 million to the state's Wind Pool will not result in an increase in premium rates this year or next, the state's insurance commissioner said.

Ambac Financial Group, Inc. reported a 2010 first quarter net loss of more than $690 million--almost double the loss it experienced for the same period last year--and reiterated its expectation that it may seek bankruptcy.

Insurance rates for the airline industry have ceased their double digit hard market trend, but buyers are still experiencing increases, according to a report from insurance broker Aon.

A Chinese drywall maker announced that it settled a case brought against it by U.S. homebuilder, Beazer Homes, for an undisclosed dollar amount.

The list of insurance companies agreeing to forgo Iran-linked investments is growing, with more than 75 percent of insurers licensed to do business in California agreeing to refrain from future investing.

Moody's Investors Service said it will update its global methodology for rating insurers to provide more consistency and transparency to its rating process.

U.S. auto thefts declined in 2009 for the sixth consecutive year, according to the National Insurance Crime Bureau (NICB).

Risk Management Solutions (RMS) said it has released a parametric industry loss index designed to provide insured loss estimates for Japan earthquakes.