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No-fault auto accident insurance fraud in New York State last year amounted to a $229 million ripoff of insurers and policyholders, said Steve Weisbart, Insurance Information Institute vice president and chief economist.

The return on catastrophe bonds increased 11 percentage points over the last twelve months with North America Wind bonds leading the pack, according to a report from Aon Benfield Securities.

OneBeacon Insurance Group, Ltd. in Bermuda said its first-quarter estimated combined ratio will be 112, including approximately $44 million, or 10 points, of mostly U.S.-based pretax catastrophe losses.

To offer organization-wide risk management capabilities, SAS is introducing SAS Risk Management for Insurance, a comprehensive solution for risk analysis and risk-based capital calculation.

The House Financial Services Committee has decided to delay action on legislation providing a long-term reauthorization of the National Flood Insurance Program until Tuesday.

Wells Fargo reported first-quarter insurance segment earnings rose 7 percent, contributing to overall net income of $2.5 billion for the San Francisco-based bank.

The Council of Insurance Brokers of Greater New York said it will join the legal effort to defeat New York's compensation disclosure rule for agents and brokers.

Insurers are now able to file a single report to multiple state insurance departments through Insurance Services Office and the National Insurance Crime Bureau, it was announced.