News

Catastrophe modeling firms' hurricane damage predictions overestimated insured losses for a second year, according to a catastrophe prediction consulting firm.

Auto insurers missed $15.9 billion in 2008 premiums because of rating errors primarily due to consumer fraud, a rating integrity solutions firm said.

Progressive reported a profit for fourth quarter 2009 as net premiums earned increased 27 percent for the last month of the year and the company's combined ratio dropped eight points.

Florida has less chance of being hit by a hurricane this year, while the coastal segment including North Carolina, South Carolina and Georgia will see heightened storm activity, a new study forecasted.

The Nevada Division of Insurance announced it has redesigned and added new features to its Web site in an effort to promote ease of use for consumers and regulated entities.

General Re Corp. has settled charges for $12.2 million that it aided schemes by American International Group and Prudential Financial, Inc. to falsify financial reports, the Securities and Exchange Commission announced.