The property and casualty insurance industry had more than $19 billion of reserve redundancy at the end of 2009--a majority of which will be released this year and the next, according to Morgan Stanley.

The House has passed legislation that allows recovery of noneconomic damages for maritime death victims' families, starting with the 11 workers that died in British Petroleum's current oil rig disaster.

Premium rates in June remained soft, but continued to show some signs of easing off the worst of the declines with decreases in the low single digits, according to MarketScout.

Wells Fargo Insurance Services acquired Kinney Agency, a commercial insurance brokerage firm located in Albuquerque, New Mexico, on July 1.