Agency Management

Insured losses for the United States in June totaled about $200 million due to hail and flooding in the Northern Plains and tornado damage in the Midwest and Ohio Valley, Aon Benfield said.

Crop insurers said late Thursday the industry and the crop insurance program will be able to "withstand" the severe cuts in subsidies imposed on the program by the Agriculture Department.

Insureds victimized by the Deepwater Horizon disaster are being warned that some carriers are planning to enforce contract provisions that they be notified of losses by July 8, according to Marsh.

Hurricane Alex became the first hurricane to hit land in the month of June in more than 40 years, but its effect on the U.S. was minimal, according to a catastrophe modeler.

The House took an important step toward reforming financial services industry regulation last night, passing legislation that would for the first time establish a federal office designed to deal with insurance activities.

Property-catastrophe reinsurance rates in the United States have significantly decreased despite catastrophe losses from the Chile earthquake and storms in Australia during the first half of 2010, according to three reports on July 1 reinsurance renewals.