News

Risk Management Solutions (RMS) said it has updated its terrorism risk model to include international cities of interest to the insurance industry.

A tropical storm warning is in effect over the next 36 hours for the Gulf Coast from Destin, Fla., to Intracoastal City, La.--an area that includes Lake Pontchartrain and New Orleans, according to the National Hurricane Center.

American International Group said it will sell its majority interest in its consumer lending business, American General Finance, and take a pre-tax loss of $1.9 billion in the third quarter from the transaction.

Two major guarantee insurers reported improved second-quarter results as they continued to work their way out of losses suffered from the economic meltdown.

While American International Group is the only property and casualty insurer expected to be deemed "systemically important" under financial services reform, that designation is expected to diminish over time, Moody's said in a recent report.

Insurance carriers are increasing their reliance on metrics as they manage their business and are not relying strictly on their own numbers, according to Jeffrey Rieder, president of the Ward Group.