Natural catastrophes and man-made disasters cost insurers $26 billion worldwide in 2009, Swiss Reinsurance Co. Ltd. said Tuesday in a sigma study. Natural catastrophes cost insurers $22 billion last year, man-made disasters cost insurers $4 billion and, combined, claimed ... [full story]

The American Insurance Association (AIA) today, stated that efforts to abolish Louisiana Citizens Property Insurance Corporation (Citizens) are misguided.  Dissolving Citizens, a state-run non-profit organization that serves as Louisiana’s property insurer of last resort and as its windstorm insurance residual ... [full story]

Florida’s government-owned Citizens Property Insurance Corp., bracing for an “above-normal” hurricane season, plans to sell $2 billion in tax-exempt bonds as early as this week. The state’s largest real-estate underwriter comes to market amid forecasts for as many as ... [full story]

Despite technical and scientific advances in catastrophe models during the past 20 years, observers say the most significant developments appear to be in the form of human capabilities. That's because a shift is under way among insurers and reinsurers ... [full story]

WASHINGTON—Insurer and reinsurer groups reiterated their opposition Wednesday to a bill that would have the federal government guarantee debt issued by eligible state catastrophe insurance programs that cover homeowners insurance. Two House Financial Services Committee subcommittees held a joint hearing Wednesday ... [full story]

Californians are aware of major earthquakes and the effect from temblors, but many have not taken necessary steps to make their homes safer and protect their personal finances, according to a just-released report. Residents are better about doing the obvious — ... [full story]

U.S. commercial property/casualty insurance rates declined 5% in February compared with a year earlier, MarketScout said Monday. Over the past six months, P/C rates have fallen 4% to 5% each month, which represents a “consistent pattern” of pricing in most coverage ... [full story]

WASHINGTON—After a lawmaker agreed to drop his objections, the Senate voted final approval last night for legislation that included a reauthorization of the National Flood Insurance Program. Senate action followed an agreement by  Sen. Jim Bunning R-Ky., to end his filibuster ... [full story]

RENO, Nev.—The chance of a significant earthquake rocking the Reno-Sparks area over the next half century is on the rise, with a 67 percent likelihood a magnitude 6.0 will strike within 31 miles by 2060, a new report said Wednesday. That's ... [full story]

WASHINGTON—Congress’ inability to renew the National Flood Insurance Program has potentially dire consequences, Federal flood agency management officials warned. The NFIP was allowed to expire Sunday when a congressional appropriations bill that included the program was held up by Sen. Jim ... [full story]