Commercial Lines

With the National Flood Insurance Program finally provided breathing space until May 31 through one of President Obamas last actions of 2011 on Dec. 23, industry officials now say one of their top priorities in the New Year is to ensure the latest short-term extension is the last.

With the National Flood Insurance Program finally provided breathing space until May 31 through one of President Obamas last actions of 2011 on Dec. 23, industry officials now say one of their top priorities in the New Year is to ensure the latest short-term extension is the last.

As the year comes to a close, Marsh issued a report saying current insurance rates are on a two-speed track, with loss affected accounts experiencing steep increases while good risks can still benefit from decreases on renewal.

As the year comes to a close, Marsh issued a report saying current insurance rates are on a two-speed track, with loss affected accounts experiencing steep increases while good risks can still benefit from decreases on renewal.

Insured losses from Australias catastrophe-filled 2011 have now topped $4.3 billion, according to the Insurance Council of Australia.

Now that 2011 is coming to a close, PC360 updates and revisits its list of top natural catastrophes of 2011.

American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche has told the company he wants to keep leading it beyond next year.

If U.S. property and casualty insurers do not manage capital and maintain underwriting discipline after the many profit-draining factors the industry faced during the first nine months of 2011, some companies could feel the pressure of ratings downgrades, says insurance rating agency A.M. Best Co.