A total of 19 states and Washington, D.C., reached an agreement with The Prudential Group, one of the largest life insurance companies in the U.S., in a case involving its unclaimed property practices.

Natural disasters cost insurance companies more than $32 billion in direct insured losses in the first nine months of 2011, nearly double the average of other years, according to the Insurance Information Institute.

A White Plains, N.Y.-based in property-casualty insurer said it is expanding its coverage to owners of “well-built, high value homes” in Louisiana.

The U.S. Senate unanimously extended the National Flood Insurance Program (NFIP) through May 31, 2012, and the House of Representatives passed a bill reforming and extending it for five years the NFIP.

A total of 91 people, including doctors, nurses and other medical professionals, were charged in connection with a Medicare false-billing scheme costing about $295 million.

Federal health reform rules for health insurance rate reviews, which took effect today (Sept. 1), may not be “strict” enough to protect consumers against insurers’ rate hikes, consumer advocacy groups say.

A Florida supply company sued an international conglomerate for allegedly lying about defective Chinese drywall used to rebuild after hurricane disasters, which forced the company to pay about $55 million in legal settlements.

Health insurance agents and brokers have found a friend in Sen. Mary Landrieu (D-La.), who has penned a letter asking federal officials to delay including agent compensation in the medical loss ratios controlling health insurer spending.

A Chicago, Ill.-based insurance brokerage firm signed an agreement to acquire a Metairie, La.-based consulting and service firm and expand its presence in the Southeastern state.

A Shreveport, La., police officer and two others were arrested and each charged with one count of insurance fraud for allegedly misreporting a stolen vehicle and burning it for insurance money.