Progressive Corp. says it sustained catastrophe losses of about $55 million in October due to Superstorm Sandy, but net income for the month increased 37 percent compared to the same month last year.

MBIA Inc shares declined after Bank of America Corp offered to buy some of its bonds, which could thwart the insurer's effort to change their terms and avoid what it has called a possible default.

South Carolina Gov. Nikki Haley today named Ray Farmer as director of the state's insurance department. Farmer is a long-time executive with the American Insurance Association.

The Congressional Budget Office has projected that passage of legislation that would streamline enforcement of the Medicare Secondary Payment program would save the government money.