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WASHINGTON--The Senate Banking committee's incoming chairman said the panel will work to establish a permanent federal program to backstop insurers against terrorism risk rather than renewing the Terro

The prediction came from Tropical Storm Risk (TSR), a consortium of experts on insurance, risk management and seasonal climate forecasting led by the Benfield UCL Hazard Research Centre at University

Sheila Breeding, a spokeswoman for Allstate in New Jersey, a subsidiary of the Northbrook, Ill.-based company, said as of Feb. 5, the company will no longer write new homeowner, condominium, mobile ho

With considerable uncertainty over prices and conditions in the commercial insurance market, insurers need to be prepared to walk away when prices fall below a prudent, risk-based premium level, the L

ACE Chief Financial Officer Philip Bancroft said the company had moved from a components-based worksheet approach to a range of earnings per share estimates with assumptions for revenue growth and est

"We didn't think [Hurricane] Katrina and the events of last year warranted a broader hardening market event because rates were adequate in many areas, so there really wasn't a need for increases," he