Regulation/Legislation

Swiss Re shrugged off the cost of floods in Europe to post better than expected second-quarter profit on Thursday and said it could beat its main annual performance target if claims remain stable in the second half.

A GAO study on the benefits of state insurance regulation is important because it serves as an objective counterbalance to an upcoming report that will likely not be objective: The FIO's regulatory modernization report.

Actuarially-based flood insurance rates scheduled to be phased in starting next year are unaffordable to Louisianas coastal residents, and could have a devastating impact on the states economy, the states insurance commissioner says.

Liberty Mutual Group subsidiaries have filed a suit challenging New Yorks decision to close a state workers compensation fund dealing with settled claims that are later reopened.

Heath Lambert Ltd., the British insurance broker acquired in 2011 by Arthur J. Gallagher, is holding reinsurance payments the cedent refuses to accept out of fear of violating European Union sanctions imposed on Iran.

Members of Congress are demanding that FEMA finesse the impact of steep flood insurance premium increases mandated by a 2012 law even as a key government watchdog lauded the agency's efforts to ensure that rates reflect risks.