Commercial Lines

The Japanese property and casualty insurance industry is expected to improve its earnings within the next year-and-a-half as adjustments the industry has made takes effect, says Moodys Rating Service.

Enter your agency in AA&B's and NU's Commercial Agency Awards for Excellence. Entries due July 20.

The National Flood Insurance Program reauthorization includes a provision that uses NOAA data and FEMA engineering formulas to resolve wind-vs.-water conflicts.

A storm system wreaked havoc over the mid-Atlantic region over the weekend, causing wide spread destruction, while firefighters in Colorado made some headway against a major wildfire that has consumed close to 18,000 acres and forced thousands to evacuate their homes.

The property and casualty market has firmed, Wells Fargo Insurance is telling its clients, but a separate Willis Re analysis of June 1 and July 1 reinsurance renewals shows a highly segmented approach to pricing, where rate increases are tied to loss activity on accounts rather than a hardening market.

The Reinsurance Association of America said it will start work immediately with the Federal Emergency Management Agency to implement a flood-law provision authorizing the federal agency to buy reinsurance to reduce the costs of funding the National Flood Insurance Program.