Recent flooding in Queensland, Australia, has resulted in about $2 billion in insured losses according to The Insurance Council of Australia.

Owners of medical marijuana businesses can now be protected against raids by authorities—provided the operation is on the up-and-up.

Fitch Ratings has dropped the financial strength rating of American International Group Inc.’s domestic non-life insurance subsidiaries after AIG had to bolster Chartis reserves by $4.1 billion.

An uptick in Allstate Corp.’s bodily injury claim frequency in auto insurance can largely be attributed to personal injury protection (PIP), no-fault laws in New York and Florida, but that alone did not drive a drop in fourth quarter profit for the insurer.

Broker and risk adviser Marsh is advising clients affected by the unrest in Egypt to file an interim payment request—but not exactly to obtain money.

The Florida Senate Banking and Insurance Committee earlier this week delayed action on a massive property insurance bill aimed at reforming everything from sinkhole claims to the amount of surplus a property insurer should carry.

American Family Mutual Insurance Company Chief Operating Officer Jack Salzwedel will become the Madison, Wisc.-based insurer’s chairman and chief executive late this year.

American International Group Inc. said it expects to record a $4.1 billion charge in the fourth quarter to bolster loss reserves for its Chartis property and casualty unit.