The flood damage cost "was mostly absorbed by the U.K. insurance industry, with only a relatively small proportion of the losses ceded to reinsurers," said Dickie Whitaker, Guy Carpenter managing dire

"We were lucky this year, and the heightened threat from destructive storms remains and is expected to last for a number of years to come," said Marc Racicot, president of the American Insurance Assoc

Despite the chief executive's assurances of continued growth, Seattle-based insurer Safeco's stock dropped more than 5 percent by midday after the company reported net income for the third quarter dro

As insurers began to cope with claims from burned out homeowners, fires continued to rage in Southern California consuming houses, businesses and acreage in one of the worst wildfires to hit the state