The Texas Insurance News Daily! Texas Auto Insurance and Home Insurance News!

For the third time in the last few months, the National Flood Insurance Program (NFIP) has expired, with legislators in Washington, D.C., unable to reach a compromise on long-term expansion of the initiative for now.

On March 25, the U.S. Senate adjourned until April 12, without addressing HR 4851, the Continuing Extension Act of 2010, which extends a number of programs for the unemployed, as well as a proposed short-term extension of the NFIP, through April 30. The House approved the measure March 17, but without Senate approval, the program’s funding ended Feb. 28, essentially shutting it down...

If you live in Texas, the only health insurance you can buy is insurance regulated under Texas law. But if bills before Congress (most notably, one sponsored by Arizona Republican Congressman John Shadegg), are enacted, Texans would be able to buy insurance regulated, say, by the laws of Virginia, or the laws of Delaware, or 47 other states, says John C. Goodman, President, CEO and the Kellye Wright Fellow of the National Center for Policy Analysis...

A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of American Strategic Insurance Group (ASI) (St. Petersburg, FL) and its members. (See below for a detailed listing of the companies.)

The ratings reflect ASI’s continued underwriting profitability and solid risk-adjusted capitalization resulting from prudent underwriting, innovative pricing systems, effective reinsurance programs and a sound overall risk management focus. As a result, significant surplus growth has occurred in recent years, complemented by continued support from the parent company. The positive outlook contemplates that operating performance and risk-adjusted capitalization will continue to trend favorably in the near and long term, as ASI begins to further diversify its geographical footprint...