Expanding a federal program that is already $17 billion in debt might seem like a non-starter of an idea on budget-sensitive Capitol Hill these days. However the idea is included in a Republican-drafted reform of the National Flood Insurance Program …
Could the soft market finally be over? A new analysis concludes that insurance prices are rising and the prolonged soft market is ending, contrary to earlier reports from other analysts. Virginia-based SNL Financial says personal lines pricing is definitely hardening …
Florida lawmakers are looking to cut the state’s largest property insurer down in size. The plan is to reduce the number of properties insured by Citizens Property Insurance Corp. by allowing it to raise its rates by as much as …
A Republican draft of legislation to reform the federal flood insurance program would renew the program for five years, phase out most rate subsidies, tie coverage limits to the rate of inflation, vary the deductible by how subsidized the premium …
Pennsylvania lawmakers are once again eyeing a tort reform package — a resurrection of the “Fair Share” act — that many in the insurance industry say would rein in what critics say is a legal system abused by plaintiffs’ lawyers. …
It’s not very often that private insurers, state regulators, lawmakers and consumer groups are all on the same page on an insurance issue in Florida—or any state, for that matter. But this miracle is taking place in Florida. The agreement …
The federal government has again postponed until 2013 the deadline for all states to be in compliance with the REAL ID program, which sets minimum national standards for drivers licenses and identification cards. The move has been cheered by states …
Giant Berkshire Hathaway, which makes much of its money on insurance and investing insurance premiums, does not provide liability insurance for its own directors. Warren Buffett, the 80-year-old chairman of Berkshire Hathaway and billionaire investor, issued his annual letter to …
IBM wasted no time in parlaying the winning performance of its artificially intelligent Watson on the TV game show “Jeopardy!” into real business. Last week, it announced a deal to commercialize Watson’s capabilities by developing a system to help doctors …
The insurance industry is asking the Obama Administration to slow down on rules for deciding whether insurers and other nonbank financial companies should be subject to extra scrutiny because they pose a systemic risk to the country’s financial stability. The …
