News

The soft market continues to challenge reinsurers, and although 2010 has seen disasters, the events will not be enough to harden pricing, according to a panel of senior reinsurance executives.

The property and casualty insurance industry continued to have sufficient reserves through 2009, though adverse development of older-year losses and a downward trend in premium growth could reverse favorable reserve strengthening trends in the future.

The International Insurance Society (IIS) has elected Norman R. Sorensen as its new chairman.

Florida CFO Alex Sink wants oil spill claim facility located in Florida.

Agent associations joined the National Crop Insurance Services in criticizing the Obama administration's decision to cut the federal crop insurance program by $6 billion over the next 10 years.

Final action on the insurance section of financial services reform legislation has been delayed as conferees work through an impasse over a federal insurance office's scope of authority in international matters.