The P&C insurance industry by and large will not suffer directly from the huge cuts in government programs set to launch on March 1, but one executive at Lockton cautions that employers should remain vigilant against questionable Workers Comp claims as local economies feel the squeeze.

New Yorks top insurance regulator said during a state Assembly hearing that Superstorm Sandy has highlighted the need for uniformity and clarity in property-insurance policies. He also vowed to examine anti-concurrent causation clauses.

In an effort to resolve outstanding non-flood-related insurance claims from Superstorm Sandy, New Yorks governor has established a mediation program and established new rules to speed the insurance-claims process.

In an effort to resolve outstanding non-flood-related insurance claims from Superstorm Sandy, New Yorks governor has established a mediation program and established new rules to speed the insurance-claims process.

Insurance broker Aon is withholding reinsurance payments totaling $600,000 on an aviation loss to two Iran insurance carriers due to U.S. sanctions.

Insurance broker Aon is withholding reinsurance payments totaling $600,000 on an aviation loss to two Iran insurance carriers due to U.S. sanctions.

Aon says insureds can expect commercial property rates to continue their modest rise through the first half of 2013, with Superstorm Sandy victims bearing the brunt of that increase.

Swiss Re says its fourth-quarter net income dropped 19 percent due in part to $900 million in Superstorm Sandy losses, but the company managed to more than double income for the full year.