The cat bond sector, in which insurers transfer risks associated with natural disasters to capital markets investors, faces stiff competition from the traditional reinsurance sector, Dennis Sugrue, associate director for financial institutions ratings at S&P, told delegates at the rating ... [full story]

WASHINGTON — The government has determined that hundreds of levees nationwide no longer meet its standards that ensure protection during major floods, a decision that forces thousands of property owners to buy federal flood insurance. The Federal Emergency Management ... [full story]

Traffic deaths in the USA are at a 60-year low despite a slight uptick in miles driven, and the chances of dying on the road are the lowest ever, the Department of Transportation says. The number of people who ... [full story]

Citizens Property Insurance Corp. officials were questioned Tuesday about the insurer's request for an average 8.4 percent statewide rate hike. That includes an average increase of as much as 11.3 percent in parts of South Florida and a 9.3 ... [full story]