Insurance
Top stories summarized by our editors
5/18/2018

The combined ratio for insurers of private workers' compensation hit an all-time low last year, and workers' compensation overall was the only market to decline in terms of net written premium, according to data from the National Council on Compensation Insurance. Average frequency of lost-time claims also declined last year in states that NCCI tracked.

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NCCI
5/18/2018

The US municipal-securities market retreated this year, according to a Bloomberg analysis of data that credits the shift to changes in US corporate tax law. Progressive reduced its municipal-bond holdings by 24%.

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Bloomberg
5/18/2018

A plume of ash spewed 30,000 feet into the sky Thursday after the latest eruption of the Kilauea volcano in Hawaii. An ash advisory was issued by the National Weather Service.

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National Weather Service
5/18/2018

Bill Reed, the former director of the National Hurricane Center, says people shouldn't wait to buy flood insurance. He notes that storm activity has begun in the Gulf of Mexico and that such policies have a 30-day waiting period after the first premium is paid.

5/18/2018

Damage is expected to be in the millions of dollars from flooding in Frederick County, Md., where a state of emergency was declared and waterways could continue to swell.

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WJZ-TV (Baltimore)
5/18/2018

The California Senate passed a bill that intends to clarify homeowners insurance following mudslides. But the legislation could be interpreted as a change of law rather than a clarification, and that could result in legal action, said Armand Feliciano, vice president of state government relations at PCI.

5/18/2018

Retirement industry trade groups have expressed support for four bipartisan bills that would update the Employee Retirement Income Security Act. Among the proposals are establishing guidelines for employers to add annuities to their retirement offerings, increasing the use of electronic communications and easing retirement-plan costs for small businesses.

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ERISA
5/18/2018

The US Court of Appeals for the District of Columbia Circuit has dismissed an appeal of a 2016 ruling that cost-sharing payments for insurers under the Affordable Care Act were illegal because Congress never approved money for them. Republican House leaders hailed the ruling as a victory for the separation of powers.

5/17/2018

Hawaii's Big Island faces the risk of a powerful eruption of the Kilauea volcano because its summit crater floor has fallen about 3 feet. Earthquakes -- the strongest a magnitude 4.4 -- damaged buildings and roads Wednesday.

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The Associated Press
5/17/2018

Local governments in areas affected by Hurricane Harvey are asking Texas to help them provide a 25% match for Hazard Mitigation Grant Program funding from the Federal Emergency Management Agency. Gov. Greg Abbott criticized Houston-area officials as having left "hundreds of millions of dollars sitting on the table," but local officials say the money that Abbott mentioned is what they are seeking his help to access.