A plan for a state storm fund to buy $1.5 billion of private reinsurance did not reach the Florida Cabinet on Tues. and may be running out of time before hurricane season.

Shares of MBIA Inc. and Assured Guaranty Ltd. jumped after Standard & Poors lifted the bond insurers credit ratings.

Allianz has started to make payment on claims linked to the disappearance of a Malaysian airliner earlier this month, the German insurer said Tuesday.

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