Insurance News

Posts Tagged ‘Concerns

WASHINGTON?Congress’ latest failure to give the National Flood Insurance Program a long-term extension is causing headaches for some risk managers.

The program, which provides up to $500,000 in property coverage for commercial structures and $500,000 in contents coverage, is used by some risk managers to provide a first layer of coverage on which larger limits can be stacked. But the NFIP, which dates back to 1968 as a means to encourage Read the rest of this entry »

WASHINGTON—Obama administration officials met with representatives of the insurance industry to discuss regulatory reform and other matters.The White House, which already has held similar meetings with representatives of other financial services industries, met with insurance industry representatives late Thursday.“They were interested in hearing from the insurers,” said Jimi Grande, vp in the Washington office of the National Assn. of Mutual Read the rest of this entry »

April 28 (Bloomberg) — European stocks retreated on concern that banks may need to raise additional capital and the outbreak of swine flu will hinder an economic recovery.

BNP Paribas SA and Credit Suisse Group AG dropped more than 3 percent after the Wall Street Journal reported that Bank of America Corp. and Citigroup Inc. may require more cash following the completion of government stress tests. BHP Billiton Ltd. and ArcelorMittal Read the rest of this entry »