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Superstorm Sandy will likely become the third most costly hurricane in U.S. insurance historybut when examining historical storms using todays dollars and exposures it would fall to the 12th costliest storm, the Insurance Information Institute says.

Congress faces renewed pressure from both federal and state legislators to reduce the cost of flood insurance. But will the program ever be able to pay down the deficit?

This year could see fewer tropical systems gaining hurricane strength than in 2012, but a greater number of storms might intensify to Category 3 or higher, according to a recent forecast.

Congress is coming under renewed pressure from both state and federal legislators to reduce the cost of flood insurance and provide greater subsidies for the National Flood Insurance Program.

Congress is coming under renewed pressure from both state and federal legislators to reduce the cost of flood insurance and provide greater subsidies for the National Flood Insurance Program.

Superstorm Sandy will likely become the third-costliest hurricane in U.S. insurance history, but when examining historical storms using todays dollars and exposures, Sandy would fall to the 12th costliest storm, says the Insurance Information Institute.

Catastrophe modeler Risk Management Solutions says indications are its latest hurricane modelwhich rattled the industrys perception of possible losses when it was released in 2011has thus far performed well following Superstorm Sandy.

Catastrophe modeler Risk Management Solutions says indications are its latest hurricane modelwhich rattled the industrys perception of possible losses when it was released in 2011has thus far performed well following Superstorm Sandy.