Alfa Insurance, Alabama’s second-largest writer of homeowners insurance, says it is dropping 73,000 policies over the next 16 months following the costliest storm in the company’s history.

Alfa Insurance, Alabama’s second-largest writer of homeowners insurance, says it is dropping 73,000 policies over the next 16 months following the costliest storm in the company’s history.

The Florida Office of Insurance Regulation says commercial insurer National Group Insurance Co. is insolvent.

As updated hurricane predictions continue to point to an active season with a greater chance of U.S. landfall, Fitch Ratings has warned that the season is approaching as many reinsurers have already used up their catastrophe budgets.

On May 22, a devastating tornado ripped through Joplin, Mo., putting an exclamation point on a spring that has seen deadly and costly storms in several states.

Florida homeowners insurer Argus Fire and Casualty Insurance Co. has been ordered to stop doing business in the state.

Florida homeowners insurer Argus Fire and Casualty Insurance Co. has been ordered to stop doing business in the state.

The Florida Commission on Hurricane Loss Projection Methodology has approved catastrophe modeling firm Risk Management Solutions’ new hurricane model.