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]

NEW ORLEANS — On Sept. 4, 2005, with floodwaters of Hurricane Katrina still standing in much of the city, Lt. Michael J. Lohman of the New Orleans Police Department arrived at the Danziger Bridge in eastern New Orleans. A group ... [full story]

Edsel Hulse, a veteran who lives in Hollywood, said he's expecting his Citizens Property Insurance Corp. windstorm insurance policy premium to increase this year because state legislators in 2009 approved allowing the insurer to boost premiums by up to 10 ... [full story]

Are insurance carriers putting too much weight on the results of catastrophe models in underwriting risks and managing their concentration of exposures? Have insurers allowed rating agencies and reinsurers to bully them into an overreliance on the models, and do ... [full story]

The risks confronting insurers appear to become more complex every day. Traditional risk, notably catastrophes, remains a core concern for underwriters. But newer risks, such as inflation and even advancing technology, must be taken into insurers' risk management calculations as well, ... [full story]