Personal Lines

An earthquake that struck Oaxaca, Mexico damaged hundreds of homes and caused an estimated insured loss of around $100 million, but no fatalities were reported.

Today Louisiana lawmakers are considering legislation that could make a battle between policyholders and Citizens Property Insurance Corp. over more than $100 million moot.

An Alabama representative is proposing to offer a $2.5 million incentive to insurers that remove wind risks from the states assigned-risk pool.

Although 2012 tornado activity is well above the year-to-date average for 2005-2011, Standard & Poors says the insurance and reinsurance industries should be able to sustain the losses.

The recent passage of legislation reforming Floridas personal injury protection auto-insurance system should help combat rising claims costs and insurance rates in the state, and is credit-positive for insurers, according to Moodys Investors Service.

More than 100 homes were damaged yesterday as three tornadoes touchdown in Michigan, but there were no fatalities reported.