Zurich Insurance Group said on Wednesday its third-quarter operating profit will be hit by a $550 million pretax charge as the company strengthens claims provisions for its German businesses and writes off some deferred costs to acquire new business.

Companies facing the upcoming ORSA may consider using the NAIC Risk Based Capital measure to meet the assessments requirementsbut the RBC has limitations.

U.S. taxpayers could pay a record $15 billion to subsidize the privately run crop insurance program this year, double the recent cost due to devastating drought in the Farm Belt, say an array of agricultural economists.

Rates for excess/umbrella casualty coverage insurance continued to rise in the third quarter, as more large companies faced increases, according to a report from Marsh.