Insurance Regulation
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 ...
California Regulators Want Insurers to Speed Up Ridesharing Policies
The California Public Utilities Commission wants the insurance industry to get off its duff and start creating some products to offer ridesharing drivers. A proposal issued by CPUC on Tuesday further ...
Texas Moves Forward in Becoming an NCCI State
In late March 2014, Texas Insurance Commissioner Julia Rathgeber approved a staff petition to adopt the National Council on Compensation Insurance (NCCI) Basic Manual, with Texas exceptions, as well ...
Travelers CEO Jay Fishman Crows About Big Returns vs. Banks
Travelers Cos. Chief Executive Officer Jay Fishman highlighted the insurer's history of posting better returns than banks and other large financial companies amid a period of increased Wall Street ...Prudential, AIG Get Ex-Connecticut Insurance Regulator As Federal Overseer
The U.S. Federal Reserve has hired a former state insurance commissioner to help it oversee non-bank financial firms that a council of regulators identified for tougher scrutiny last year. Thomas ...
Judge Quashes Bid By Ex-AIG CEO Greenberg to Dismiss Civil Suit
A New York state judge has rejected a request by Maurice "Hank" Greenberg, the former American International Group Inc chief executive officer, to dismiss a long-running civil lawsuit by the state's ...