Insurance Regulation
AIG Challenges New York Regulator’s Authority Over Sales to Multinationals
American International Group Inc. sued to block New York's top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be ...
Insurers Face Tougher EU Scrutiny on Pay
Insurers from Prudential Plc to Axa SA face tougher European Union oversight of compensation as the bloc seeks to crack down on awards that could spur irresponsible risk taking. Draft European ...
China Orders Insurers to Halt Sales of Smog Insurance
Chinese regulators have told the country's two largest insurers to stop selling coverage against smog, a week after such policies were launched, the China Daily reported. The newspaper did not say ...
Puerto Rico, Detroit Investors Buoyed by Bond Insurers’ Rebound
Buyers of debt issued by bankrupt Detroit or junk-rated Puerto Rico are finding it pays to have bond insurance. The backing is even more valuable after upgrades of units of Assured Guaranty Ltd. and ...
MetLife CEO Frustrated with Regulatory Uncertainty On Capital Rules
MetLife Inc. Chief Executive Officer Steve Kandarian has seen regulation hinder his company's capital plans since he took over the top job at the largest U.S. life insurer in 2011. The Federal ...
California Voter Initiative Aims to Increase Damages Cap
California's limit of $250,000 on medical malpractice damages for pain and suffering, which became a model for other states almost 40 years ago, could be increased under a voter initiative to be ...
Insurance Payments Begin But Liability Over Missing Malaysian Jet Unclear
As the final hours of Malaysian Air Flight 370 remain wrapped in mystery, the question of who bears full liability for the jet's disappearance is also unresolved. This much is clear: Families of the ...
Public Service Exits California Workers Comp
Public Service Mutual Insurance Co.'s exit from California's workers compensation market isn't a reflection of the health of the state's workers' compensation system, according to the California ...