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Capitol Hill ends flood cover gridlock
The legislative gridlock that left US homeowners unable to buy or renew flood cover has been lifted after lawmakers approved a temporary reauthorisation of the National Flood Insurance Program (NFIP) to 30 September.
08 July 2010
Pending federal regulator stirs industry unease
The Property Casualty Insurers Association of America (PCI) has voiced "deep concern" over potential conflicts between state regulators and the proposed Federal Insurance Office (FIO).
08 July 2010
UK budget throws crumbs of comfort
The UK emergency budget last month imposed a smaller premium tax increase than feared by commercial insurers, while cheering the industry with a series of moves that should curtail the country's deteriorating competitiveness.
08 July 2010
US class action culture curbed
Litigators have claimed a US Supreme Court ruling on a securities class action lawsuit brought by investors in Australia's largest bank as a "sweeping victory".
08 July 2010
Quinn suitors given 16 July deadline
Merchant bank Macquarie Capital, which is managing the sale of troubled Quinn Insurance and sister company Quinn Healthcare, has set a 16 July deadline for expressions of interest, The Insurance Insider can reveal.
08 July 2010
Soft reinsurance market ignores H1 losses
The heavy first-half catastrophe loss burden of 2010 was not sufficient to drive a general reinsurance market turn, as the trend of competitive price declines continued at the 1 July renewals, according to the major reinsurance brokers
08 July 2010
International digest
Global P&C industry shrinks as capital grows; Blue City in red; $2.5bn polrisk bill; P&C impairments escalate; Chile rocks Glacier Re; Ariel to Rio; Tokio Marine's global shake-up
08 July 2010
London digest
KGM sale highlights difficult UK motor market; Hiscox 2011 capacity cut; Kwik insurance exit; Tolle is back; Jardine for Gilmour; AIG's European overhaul
08 July 2010
German run-off market still to be fully tapped
Run-off market for Germany, Switzerland and Austria leaps in size
08 July 2010
Lloyd’s legacy albatrosses to be finally set free
GoshawK and Alleghany - two of the most spectacular failure to occur on the Lloyd's Central Fund - are closer to being finally reinsured
08 July 2010
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