The tornadoes that hit the U.S. Midwest and Southeast during the last week of April resulted in as much as $6 billion in insured losses, according to a global risk modeling agency.

Eastern Insurance Holdings reported net income of $1.9 million for the three month period ending March 31, according to its latest financial statement.

The Allstate Corp. said its estimated catastrophe losses in April were $1.4 billion, pushed up by tornado losses in Alabama, Arkansas, Georgia and Virginia.

Insurance regulators in New York have signed off on Virginia Farm Bureau Mutual Insurance Co.’s acquisition of Countryway Insurance Co., a property-casualty insurance company based in Syracuse, N.Y.

Ken Cuccinelli, Virginia’s attorney general who argued an appeal challenging the federal health reform law, predicted after the hearing in Richmond today (May 10) that the U.S. Supreme Court is likely to rule on the controversial case in June 2012.

A three-judge federal appeals panel is scheduled today (May 10) to hear arguments in the first major challenges of the federal health reform law passed last year.

United Prosperity Life Insurance Co. has signed an definitive agreement to buy Shenandoah Life Insurance Co., a Roanoke, Va.-based insurer that has been in receivership over financial concerns since February 2009.

Residents of homes with faulty drywall reached an $8 million settlement with a New Orleans company that distributed the Chinese drywall to homes in the Gulf region for rebuilding after hurricane disasters.

The National Association of Insurance and Financial Advisors of Virginia (NAIFA) is holding its 76th annual conference May 19-21 at the Cavalier Resort Hotel & Beach Club Convention Center in Virginia Beach, Va.

All Risks partnered with Canal Insurance Co. to expand its trucking coverage to Virginia and Delaware, effective April 15.