Regulation & Compliance
FIO Seeks Comments on Auto Insurance Affordability
On April 10, the Federal Insurance Office, citing its authority under the Dodd-Frank act to monitor whether underserved communities have access to affordable insurance, posted a request for comments ...
BofA Settles with FGIC, Mellon Over Mortgage Securities for $950M
Bank of America Corp., the second- largest U.S. lender, said it reached a $950 million settlement tied to residential mortgage securities backed by Financial Guaranty Insurance Co. The accord ...
Insurance compliance work rarely operates at an entirely predictable pace. A carrier may be managing normal licensing and appointment activity...
Ship Owners Have to Provide Insurance, Bond for Stranded Merchant Sailors: New UN Rule
Sailors stranded on merchant ships without food, supplies or a way home won new safeguards. Ship owners will have to provide insurance or a bond to pay for sailors' wages and repatriation under a new ...
Uber Needs Insurance as Amateurs Drive Strangers, CA Commissioner Says
California Insurance Commissioner Dave Jones said that car-booking services like Uber Technologies Inc. should provide coverage to reimburse victims when nonprofessional drivers in their networks are ...
NY Regulator Subpoenas Chubb, CNA, Liberty Navigator in Iran Sanctions Probe
New York state's top insurance regulator has sent subpoenas to four U.S. insurance companies as part of a probe of potential sanctions violations involving Iran, a person familiar with the matter ...
China Could Attract More Global Firms with Relaxed Insurance M&A Rules
China's decision to partially relax mergers and acquisition rules in the insurance industry could see global insurance firms expand their footprint in the $288 billion market. Beijing would allow ...
U.S. SEC Forms Group to Probe Private Equity, Hedge Funds
The U.S. Securities and Exchange Commission (SEC) has put together a dedicated group to examine private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated, ...
MLP Analysis: Risks Rise for Investors As Energy Partnership World Gets Crowded
High-yielding energy partnerships have lured billions in capital from investors in the past few years and the returns have often matched or beaten expectations. But as riskier kinds of businesses ...