News

Swiss insurer Zurich Financial Services AG on Thursday reported a 51% decline in second-quarter net profit.

Actions to improve its Encompass subsidiary, lower growth and additional risk management actions in California and Florida negatively impacted property liability results for Allstate Corp., which reported a 62.7 percent drop in second-quarter net income.

Moody's Investor Services expects reserve releases from the U.S. property & casualty industry to "taper off" over the next year to two years.

Claims Magazine spoke with the man President Obama appointed as "pay czar" of the $20 billion BP oil spill compensation fund, Ken Feinberg. In this exclusive Q&A, he talks about the claim process and what must happen for people to get the money they need.

Despite losses that would normally promote a hardening in the power sector insurance market, rates remain soft with no sign of a turnaround in the near future.

Florida's property insurance market appears able to absorb the blow of a large storm in addition to a series of smaller events this year.