Commercial Lines

U.S. property and casualty insurers saw 2012 first-quarter net income soar by 69 percent as lower catastrophe losses helped drop the industrys combined ratio to 96, compared to 102 a year ago, according to a Moodys Investors Service analysis.

Rep. Judy Biggert, R-Ill., plans to introduce a bill in the House that would extend the National Flood Insurance Program for one month, pushing the programs expiration date back to June 30.

Rep. Judy Biggert, R-Ill., plans to introduce a bill in the House that would extend the National Flood Insurance Program for one month, pushing the programs expiration date back to June 30.

Firefighters are grappling with rugged terrain in an effort to contain wildfires in Arizona that have consumed close to 13,000 acres.

Cat bond activity reached record levels in the first quarter of this year, exceeding last years placements by more than $300 million, says a leading reinsurance broker.

The Risk Management Solutions Version 11 catastrophe model is shifting rates higher, and causing some risks to move from the admitted market back to excess and surplus lines carriers, but a leader of a managing general agent group cited concerns with the models impact on how insurers underwrite risks.

The Risk Management Solutions Version 11 catastrophe model is shifting rates higher, and causing some risks to move from the admitted market back to excess and surplus lines carriers, but a leader of a managing general agent group cited concerns with the models impact on how insurers underwrite risks.

Florida has effectively agreed to abide by federal-flood-agency rules that bar new development in flood plains without prior federal approval.