Reinsurance

Insurers didn't get any notable late-December bargains from disciplined reinsurance underwriters, but soft pricing continued for Jan. 1 renewals--and remains in place for the foreseeable future, reinsurance executives said.

Reinsurance rates across most lines of property and catastrophe business declined for Jan. 1, 2010 renewals, according to a study released by reinsurance broker Guy Carpenter & Company, LLC.

The Mississippi Insurance Department is transferring $19 million to the Mississippi Windstorm Underwriting Association to help stabilize coastal homeowners insurance rates.

The insurance and journalism worlds lost one of their best last week when Philip "Phil" Schreiner, former editor of Claims magazine, passed away on Dec. 10 after a short battle with lung cancer at the age of 66.

Insurers are increasingly offering products and promoting behavior that address the growing risk of climate change.

Reinsurance and surplus lines purchases would be governed by the tax policies, licensing and other requirements of the buyer's home state under legislation approved for House floor action.