Insurance Regulation
NY AG Schneiderman Says AIG Suit Is Bid to Hobble Unlicensed Sales Probe
New York Attorney General Eric Schneiderman asked a federal judge to dismiss a lawsuit filed by American International Group Inc. against the state's Department of Financial Services and its ...AIG Says Whistleblower Suit Alleging Unlicensed Life Ins. Sales Without Merit
American International Group Inc. defrauded the U.S. by failing to disclose it was selling insurance without a license during negotiations with the government over a bailout in the financial crisis, ...
Motorists Mutual to Acquire Southeast, Midwest Insurer
Ohio-based Motorists Mutual Insurance Co. has agreed to buy the stock of Consumers Insurance USA, which is based in Murfreesboro, Tenn. Consumers Insurance will become a wholly owned subsidiary of ...
House Republicans Call for Opening Black Box on Systemic Risk Designations
A group of Republican lawmakers demanded documents on Friday from U.S. regulators, voicing concerns that decisions about whether to designate large financial companies as systemically risky are ...AIG Fined for Covering Canadian Clients With Cuba Ties
American International Group Inc. sold coverage to clients with ties to Cuba, a nation sanctioned by the U.S., when the insurer was owned by American taxpayers after its 2008 bailout. The insurer ...
Bernhard Appointed Head of Internal Audit at Hamilton Insurance
Last week, Hamilton Insurance Group today announced that Keith Bernhard has joined the organization as Head of Internal Audit. Bernhard takes on a newly created position at the Bermuda-based company, ...
Many Employers Unfamiliar With Management Liability Risks Posed by Affordable Care Act: Travelers
A new survey sponsored by Travelers reveals that many businesses may not be prepared for implementation of the Patient Protection and Affordable Care Act (PPACA). The survey, conducted in March by ...
Beyond Market Conduct Exams: How to Establish a Compliance Culture at a P/C Carrier
Resources invested in compliance are somewhat like premiums paid for insurance policies—paying upfront today prevents you from having to pay more later. Although midsize carriers may need to expend ...