A key ratings service expects a “somewhat limited impact” from Hurricane Irene for U.S. property-casualty insurers and global reinsurers.

California officials predict that Standard & Poor’s (S&P) recent downgrade on the credit rating of U.S. government securities will not affect life insurers’ dealings with their consumers in the state.

The National Association of Insurance Commissioners (NAIC) and Standard & Poor’s seem to have differing views on insurers’ risk since the U.S. government debt downgrade last week.

Health care service costs for commercial and Medicare insurance programs are rising at a slightly lower rate, according to a Standard & Poor’s analysis.

State Auto Group, which recently opened a regional headquarters in Hunt Valley, Md., has had its counterparty credit and financial strength ratings lowered by Standard & Poor’s Ratings Service.

Several key ratings for Baltimore, Md.-based OM Financial Life Insurance Co. were lowered as Standard & Poor’s Ratings Services raised concerns about the company’s possible sale.

The owners of the mine in West Virginia where rescuers are searching for four missing miners and where 25 miners already were killed in an explosion April 5 did not obtain business interruption insurance.

With hurricane season approaching, Florida’s Citizens Property Insurance Corp. plans to sell $2 billion in tax-exempt bonds to add to its reserves for claims.

The medical malpractice insurance market appears likely to soften more, as insurers continue to battle what one ratings service calls “significant challenges.”

American International Group agreed to sell its Asian life insurance business for $35.5 billion, making it one of the largest insurance deals in history.