Insurance Regulation
Risk Management Office Privatization Saves Louisiana $16M
Louisiana has saved nearly $16 million in the first three years of a privatization contract for the Office of Risk Management, the state's self-insurance agency, according to an audit released ...
Merger Questions and Answers: Ironshore Ends Deal; Tower Deal Survives
Property/casualty insurance industry merger news continued late last week with Ironshore announcing that its deal to acquire an Australia specialist fell apart, while Tower got an assurance that its ...
U.S. Insurance Regulators May Refuse to Apply Global Capital Rules: NAIC President-Elect Lindeen
The United States may refuse to apply new global capital rules in the world's biggest insurance market because of the "breakneck speed" they are being pushed through, American regulators said on ...
U.S. Treasury Secretary to Defend FSOC Work at Congressional Hearing
U.S. Treasury Secretary Jacob J. Lew pushed back against Republican efforts to curtail the work of a council of regulators charged with preventing another financial crisis and said a failure to ...
FSOC Faces Balancing Act on Transparency: Treasury Official
A U.S. Treasury official pushed back against criticism by some Republican lawmakers that the process for deciding whether financial companies pose a potential risk to stability lacks transparency. ...
Florida Private Flood Bill Now Law But Market May Take a While to Develop
Florida Gov. Rick Scott has signed legislation designed to encourage private insurers to offer flood insurance, but the industry is tamping down expectations that it will result in a viable market in ...
Wind Park, Power Grid Investments Causing Solvency II Headaches for EU Insurers
Insurance regulators in Europe won't relax rules designed to protect customers from risks to investments in structures like wind parks and power grids, the head of the industry's watchdog said. ...
Florida Judge Approves Deal for Heritage to Assume Sunshine State Policies
A Florida judge has signed off on a plan by regulators to allow a failed Florida property insurer's policyholders to be assumed by another company, although policyholders will retain the option to ...