Reinsurance

Global interconnection has increased vulnerability to risks around the world, and insurer involvement will be critical in finding answers for the uncertain and volatile future, according to an official with the World Economic Forum.

While the entire year's results are not in yet, the insurance industry should show significant financial gains for 2010 and its performance will be the best it has experienced since the beginning of the financial crisis, said an industry observer.

An executive with Reagan Consulting believes the current rate of merger and acquisition activity over the past five weeks will not be sustained throughout 2011.

The American Bankers Association is calling for "wholesale" overhaul of the National Flood Insurance Program (NFIP), including providing incentives for the private market to assume a greater role.

American International Group Inc. (AIG) has tentatively agreed to pay $450 million to seven named insurance companies in order to settle a protracted federal civil lawsuit over alleged underreporting of workers' compensation premiums.

The American Bankers Association is calling for "wholesale" overhaul of the National Flood Insurance Program, including providing incentives for the private market to assume a greater role.