Progressive Corp. says it sustained catastrophe losses of about $55 million in October due to Superstorm Sandy, but net income for the month increased 37 percent compared to the same month last year.

Australias QBE Insurance Group has joined a number of carriers who believe Superstorm Sandy could cause more insured losses than catastrophe modelers have predicted.

State Farm says it has received more than 90,000 claims from Superstorm Sandy thus far, and the company took to the sky to get policyholders to report more.

While catastrophe modelers are still revising their insured-loss estimates for Superstorm Sandy, one thing looks certain: It will rank among the costliest U.S. hurricanes ever.

Business Interruption and Contingent Business Interruption (CBI) claims loom as large issues following Superstorm Sandy, as thousands of businesses of all sizes deal with flooding, physical damage, power outages, government orders and supply-chain disruptions.

After a decade as the leader of Philadelphia Insurance Cos., CEO Jamie Maguire is stepping down.

Tower Group says it expects an after-tax net loss from Superstorm Sandy of between $55 million and $68 million next quarter.

THOMCO founder Greg Thompson has taken over as the head of Markel Specialty, a subsidiary of Markel Corp.