Over $3 billion in losses for the mining-insurance industry has resulted in a decrease of 30 percent of insurance capacity in the line, says a report from Willis Group Holdings.

Arthur J. Gallagher (AJG) kicked off the fourth-quarter earnings report season for insurance brokers by saying that its net profit dropped 18 percent, primarily due to increased expenses. But the Itasca, Ill.-based insurance-brokerage firm says earnings are on the rise.

A magnitude 6.7 earthquake that struck the Negros-Cebu region of the Philippines yesterday is not expected to be a major insurance loss says catastrophe modeler AIR Worldwide.

A magnitude 6.7 earthquake that struck the Negros-Cebu region of the Philippines yesterday is not expected to be a major insurance loss says catastrophe modeler AIR Worldwide.

Daytona Beach, Fla.-based insurance broker Brown & Brown reported fourth quarter net income increased 14 percent over the prior year as the firm reported over $1 billion in revenue for the first time.

Chicago-based insurer CNA says 2011 fourth-quarter net income dropped 37 percent on the combination of lower net-investment income, catastrophe losses and reserve charges in its life business.

Over $3 billion in losses for the mining-insurance industry has resulted in the loss of 30 percent of insurance capacity, says a report from Willis Group Holdings plc.

The property and casualty industrys positive rate momentum continued into the New Year as rates crept up another 1 percent in January, according to the online insurance exchange MarketScout.