News

Insurers have secured key changes in financial services reform legislation easing a proposed financial requirement for large firms and eliminating tighter regulation of financial product sales.

Insurers' claims and litigation costs stemming from Chinese drywall problems are expected to be significant, property damage up to the $10 billion range by one estimate, a rating firm said.

An article in the Sarasota Herald-Tribune on insurance carrier profits has drawn a response from one of those mentioned.

Rather than work to destroy the health reform bill passed by Congress, the insurance industry and Republican lawmakers should work to improve it over the next few years, suggests NU Editor Sam Friedman on his blog at www.NUSamSoapBox.com.

The Hartford has announced that it plans to repay the $3.4 billion it borrowed from the Treasury last year under the Troubled Asset Relief Program.

Worldwide natural catastrophes and man-made disasters cost insurers $26 billion last year