Commercial Lines

Katia is now a Category 1 hurricane far west of the Caribbean and forecasters have advised the Gulf Coast to keep an eye on a separate potential tropical storm.

Typhoon Nanmadol weakened to a tropical depression after hitting Taiwan on its way to Chinas east coast, and catastrophe modeler Eqecat estimates the storm caused between $200 million and $500 million in insured losses for Taiwan.

The insurance brokerage business of South Africa-based Alexander Forbes will be acquired by insurance broker Marsh, a subsidiary of Marsh & McLennan Companies

The insurance brokerage business of South Africa-based Alexander Forbes will be acquired by insurance broker Marsh, a subsidiary of Marsh & McLennan Companies

Two rating agencies say the property and casualty insurance industry can handle losses from Hurricane Irene, but question whether more losses this hurricane season could change that scenario.

Two rating agencies say the property and casualty insurance industry can handle losses from Hurricane Irene, but question whether more losses this hurricane season could change that scenario.

Catastrophe modeler Eqecat says the U.S. can expect $1.5 billion to $2.8 billion in insured losses from Hurricane Irene.

Tropical Storm Katia is expected to become the Atlantic seasons second hurricane over the next 36 hours, but it not yet know what impact, if any, the storm will eventually have on the U.S. East Coast.