Regulation & Compliance
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, ...
Tyco Moving to Ireland as Swiss Tighten Laws on Exec Pay, Immigration
Security systems maker Tyco International said its board had approved a proposal to move the company's headquarters to Ireland from Switzerland, citing recent Swiss laws capping executive pay and ...
U.S. Treasury Priority: Putting an End to Tax-Driven Business Moves Abroad
The Obama administration is seeking ways to curb tax-dodging by U.S. businesses that reincorporate overseas, a U.S. Treasury official told Reuters on Wednesday, highlighting growing concern about ...
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 ...
FIO’s Affordability Study Needs Unified Industry Input: Howard Mills’ View
There are very few sure things in life, but among the closest to a certainty is that every year, on the ubiquitous year-end lists of top risks insurers face in the year to come, regulatory risk will ...