News

While a bid to add wind coverage to federal flood insurance has stalled in Congress, a southern senator is pitching a compromise bill that seeks to bridge the gap over wind-vs.-water damage claims.

Disallowing the tax deduction for reinsurance between affiliated entities would have a "detrimental effect on U.S. consumers" and lead to higher insurance premiums, the head of a trade group representing European carriers warned.

Claims never seem to be routine when animals are involved. As insurance professionals told us, animals complicate matters by chewing, devouring, stomping, or even just lying motionless.

The ACE Group has appointed Bruce Kessler as president of Atlanta-based ACE Westchester.

Erie Indemnity Company reported 2010 second-quarter net income of $49 million, up $16 million from the prior year's $33 million.

OneBeacon reported net income dropped $125 million as a combination of insured and investment losses and a drop in written premium took a toll on earnings.