News

Four auto insurers in Massachusetts have reached a settlement with State Attorney General Martha Coakley's Office to return an expected $9 million to consumers for alleged overcharges.

A workers' compensation insurance rate hike request for Massachusetts that has drawn the fire of the state attorney general would be the first increase in nine years, said the industry group proposing it.

Catastrophe risk modeling firm AIR Worldwide estimates that insured losses in France, Belgium, Germany and Netherlands from winter storm Xynthia will be between EUR1.5 billion ($2 billion) and EUR3 billion ($4 billion).

A new insurers' coalition has written the Senate Banking Committee asking that property and casualty carriers not be included in a measure regulating systemic risk in the financial services sector.

After a lawmaker agreed to drop his objections, the Senate voted final approval for legislation that included a reauthorization of the National Flood Insurance Program.

Congress' inability to renew the National Flood Insurance Program has potentially dire consequences, Federal flood agency management officials warned.