Floods in central Europe last month may cost insurance companies $3.5-4.5 billion, only half of one previous estimate but more than was paid out for the last major washout in 2002, the world's second biggest reinsurer said.

The private equity firm Kohlberg & Co. L.L.C. entered the mergers and acquisition picture last week by acquiring a majority of the stock of Risk Strategies Co., a national insurance and risk management brokerage firm.

Members of Congress are demanding that the Federal Emergency Management Agency finesse the impact of steep flood insurance premium increases mandated by a 2012 law even as a key government watchdog lauded FEMA for its efforts to ensure that flood insurance rates reflect risks.

The Obama administration's delay of implementation of the employer mandate of the Affordable Care Act (ACA) has thrown into a tailspin expectations of the acts requirements and revised expectations for other provisions of the Act.