News 

NU Editor Sam Friedman won the Bronze Award for Editorial Excellence for his weekly column, given out by the American Society of Business Publication Editors. See www.NUSamSoapBox.com to review the winning entries about Hank Greenberg and Eliot Spitzer....

High U.S. storm losses affected a number of earnings announcements late this week, eclipsing normal weather-related losses for this time of year and impacting profitability....

Standard & Poor’s has raised Arch Capital Group’s operating insurance and reinsurance companies’ financial strength ratings to A-plus from A, reflecting the group’s “strong management and well-conceived corporate strategy,” according to the rating agency....

Willis Group Holdings reported a 2 percent increase in 2010 second quarter net income as it increased organic growth by 4 percent despite the headwinds of a soft market and continued challenges from the economic downturn....

Bermuda-based reinsurer, Everest Re Group Ltd. reported a 42.5 percent drop in 2010 second quarter net income, while also announcing that Chief Executive Officer Joseph V. Taranto will retire as of Dec. 31....

The majority of the American public is not overly supportive of legislation allowing policyholders to file first-party bad-faith lawsuits, the Insurance Research Council (IRC) said in a new report. ...

The National Association of Insurance Commissioners (NAIC) is looking for a vendor to model expected insurer losses for commercial mortgage-backed securities (CMBS) in an effort to...

Fire officials expect to have control over two major wildfires burning in California by the end of this week, but neither incident should amount to catastrophe claims, an insurance association representative said....

With its chief executive calling the current business climate the most difficult since the Great Depression, Arthur J. Gallagher (AJG) reported flat net income for the 2010 second quarter and another quarter of organic growth decline....

A letter to Nevada officials requesting that the state stop discriminating against a risk retention group underscores the need for a Government Accountability Office RRG report, counsel for an RRG association said....

Legislation introduced in the Senate today that would split the difference on wind vs. water claims after a hurricane appears to be generating little support within the property and casualty insurance industry....

The New Mexico Public Regulation Commission (NMPRC) has appointed John G. Franchini as Superintendent of Insurance, the commission announced....

The explosion of the Deepwater Horizon rig in the Gulf of Mexico has changed sentiment among energy underwriters and will likely lead to new market dynamics, according to a new report by insurance broker Marsh....

The Federal Reserve Board is seeking nominations for appointments to a council that may influence how the Fed sets up the Consumer Financial Protection Bureau. ...

Florida’s insurance consumer advocate told regulators Allstate’s Castle Key subsidiaries do not need the double-digit rate increases they are asking the state to approve....