News

The National Flood Insurance Program will pay claims for damage to homes and contents from oil driven ashore during hurricanes, its officials have announced.

A proposed tax on offshore reinsurers will likely raise costs for crop insurers and could reduce even further the players in that market, a lobbyist for Bermuda insurers warned Monday.

Catastrophe models insurers use to assess risk could help governments and aid agencies develop new approaches for sustainable development and poverty alleviation, said Rowan Douglas, chairman of the Willis Research Network.

A federal court's order to American International Group to hand over more than 400,000 documents to insurers is the latest round in a three-year-old dispute over unpaid workers' compensation premiums that one insurer said amounts to more than $1 billion.

John J. Bauer, director of regulatory reporting for Prudential Financial, received The Insurance Accounting & Systems Association Inc.'s Presidential Award during the association's recent meeting in Dallas.

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