This year should see more negative rating actions than positive due in large part to the likelihood of insurers taking reserve charges, A.M. Best says.

British insurer RSA blamed a handful of executives for accounting irregularities at its Irish division, attempting to draw a line under a scandal that left it with a $329 million hole in its finances.

The Congressional Budget Office says efforts to delay flood-insurance rate hikesas proposed in a Senate bill under considerationwould add $2.2 billion to the National Flood Insurance Programs debt over 10 years, raising concerns that the bill will run into strong opposition in the House.