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The National Flood Insurance Program will lapse June 1 because of congressional inaction, meaning insurance agents will not be able to provide new or renewed insurance policies under the Federal Emergency Management Agency's Write Your Own Program.

Willis Group Holdings has appointed Scott Pickering as chief executive officer, Russia, Eastern Europe, the Middle East and South Africa.

Massachusetts Attorney General Martha Coakley has proposed new auto regulations that, she said, offer consumer protections by increasing transparency and enhancing policyholders' ability to shop effectively for coverage.

The Federal Reserve Bank of New York came under intense fire at a congressional hearing this week for its decision to allow 100 percent payback for counterparties to AIG credit default swaps after it bailed out the firm in September 2008.

Expanding potential liability for employers and their employment practices insurers, the U.S. Supreme Court gave the green light to an employment case involving the use of tests that have a disparate impact on a protected employment class.

Lloyd's estimates net claims from the Deepwater Horizon explosion in the Gulf of Mexico to range between $300 and $600 million. The company added that its net claims before tax from the earthquake in Chile are about $1.4 billion.

William Berkley, who heads a group of U.S. insurers working to close what they see as a tax loophole for foreign insurers, suggested that critics are launching empty threats to thwart his coalition's efforts.

Insurers plan to invest $84 million, on average, over the next three years to improve their multi-channel distribution strategies, according to findings of a global survey by Accenture.