A possible U.S. government default on its debts, if the federal debt ceiling is not increased, will not “in the near term” hurt the property-casualty insurance sector, according to a financial analysis firm.

NORCAL Mutual Insurance Co., a San Francisco-based carrier that operates a Pennsylvania insurer, is buying with Medicus Insurance Co. to expand its reach nationally.

An insurer for Sony Corp. asked a court to excuse it from paying the conglomerate’s legal defense after a data breach in April, and challenged Sony’s other insurers to define the extent of their coverage.

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.

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.

Many Allstate Insurance agents will soon vote on whether to become a guild of the Office and Professional Employees International Union (OPEIU).

Tabb, Brockenbrough & Ragland, a 129-year-old independent insurance agency in Richmond, Va., has been acquired by an Ohio-based independent agency system.

A Branchville, N.J.-based holding company announced that its subsidiary entered a renewal rights and asset purchase agreement with an Alterra Capital Holdings subsidiary to add excess and surplus lines (E&S) to its portfolio.

The U.S. House of Representatives passed a bill that would extend the National Flood Insurance Program for five years.

A Philadelphia-area property-casualty company that writes policies for niche markets nationally has formed a strategic alliance with two Washington, D.C.-based insurance companies.