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To balance its budget, the United Kingdom government included in its emergency budget an increase in the standard insurance premium tax rate (IPT) from 5 percent to 6 percent, which insurers say will hurt consumers.

Forty-four states, the District of Columbia and Puerto Rico have approved the new non-profit D&O program so far, and the admitted filing of the nationwide program is currently under way.

The property and casualty insurance industry continued to have sufficient reserves through 2009, though adverse development of older-year losses and a downward trend in premium growth could reverse favorable reserve strengthening trends.

Property and casualty insurers must innovate to stay relevant to customers, improve profitability and transition into a business model that can shift with future market changes.

The U.S. government is likely to suffer a loss on its investment in American International Group (AIG), Treasury Secretary Timothy Geithner acknowledged Tuesday.

CSC announced the launch of Integral, a software suite for all lines of insurance, including end-to-end policy/group management, product configuration, and business analytics capabilities.

President Obama has a warning for health insurers: do not use the new health care law as an excuse to raise insurance rates.

The soft market continues to challenge reinsurers, and although 2010 has seen disasters, the events will not be enough to harden pricing, according to a panel of senior reinsurance executives.