In the latest chapter of the British Petroleum oil spill, a federal judge has ruled that a six-month moratorium on deepwater oil drilling by the federal government was imposed "contrary to law" and agreed to lift an injunction.

To balance its budget, the United Kingdom government included in its emergency budget an increase in the standard insurance premium tax rate (IPT) from 5 percent to 6 percent, which insurers say will hurt consumers.

BP’s CEO Tony Hayward can’t cut a break. He does something to “get his life back,” but that something happens to be yacht racing. And ...

The financial crisis has put the heat on Bermuda to increase transparency and supervision over captive formations, as the domicile works to attract new middle-market participants to maintain growth despite a soft commercial insurance market.

Risk retention groups (RRGs) have an extra 15 business days, until July 15, to comply with holding company requirements and register with the state, if necessary, according to the South Carolina Department of Insurance.

British Petroleum's $20 billion fund to compensate Gulf oil disaster victims will pay quickly, eliminate trial lawyers' settlement cuts, and allow for BP's continued operations

An Insurance Information Institute representative said the likely administrator of a $20 billion fund for oil spill disaster claims has the experience but will be challenged to develop a fair, timely process given the resources available.

The official start date of the Atlantic hurricane season was June 1, but no flood policies have been issued or renewed because the National Flood Insurance Program has expired.