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The National Flood Insurance Program will pay claims for damage to homes and contents from oil driven ashore during hurricanes, its officials announced earlier this month.

In the first jury trial of a case involving Chinese drywall, a Miami-area couple was awarded nearly $2.5 million.

Independent agencies have until July 1 to hand in their entries for the 2010 Commercial Insurance Agency of the Year Award program, run by National Underwriter and American Agent & Broker.

The National Hurricane Center reported the first hurricane of the 2010 season over the weekend, making it the season's third named storm so far.

Global reinsurers and their bondholders are poised to benefit as more U.S. jurisdictions look to follow Florida's lead on easing global reinsurers' collateral requirements, according to a Moody's Investors Services analysis.

Walmart may be the most frequent defendant named in wage-and-hour lawsuits, but insurers and pharmaceutical companies are also caught up in a maze of rules they did not know applied to certain subsets of their workforce, experts said.

A.M. Best Co. has downgraded the financial strength rating (FSR) and issuer credit rating (ICR) of British Petroleum's captive insurer, Jupiter Insurance Limited, over concerns regarding the Deepwater Horizon oil spill in the Gulf of Mexico.

CRC Insurance Services Inc. has acquired TB&C Wholesale Insurance Services of Glendale and Placentia, Calif.