News

Dozens of insurance trade group members spent a day lobbying Texas legislators yesterday urging them to find a proper solution to bankroll the state's badly depleted windstorm pool.

Beginning in 2010, the National Association of Insurance Commissioners (NAIC) will conduct three National Meetings instead of the current quarterly schedule.

The Wheaton, Ill.-based American Association of Insurance Services (AAIS) said it has made a nationwide filing of some additions to policy language for use with commercial insurance policy forms.

Demand surge has little to do with economic factors after the storm and everything to do with quality and cost of claims settlements, said Anna Olsen, a researcher at the University of Colorado.

Fitch Ratings has downgraded mortgage insurers MGIC Investment Corp. and The PMI Group (TPG), citing in both cases loss expectations and capital constraints facing the companies as independent mortgage insurers.

Newly proposed House legislation to end the insurance industry's anti-trust exemption has been attacked by two insurer trade group who call it a "punitive bill hinging on a false premise."