Regulation & Compliance
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 ...
Madoff’s Former Associates Convicted in Multibillion-Dollar Fraud
Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years. A federal jury in New ...
IRS Expects ‘Glitches’ with FATCA Tax Law on Offshore Accounts
A new U.S. anti-tax evasion law, set to take effect on July 1, will encounter "inevitable glitches," said the head of the U.S. Internal Revenue Service on Monday, adding that the IRS will be ...
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 ...
UK Spending Cuts Could Mean More Flood Re Claims: Fitch
Uncertainty about UK government spending on flood defenses means the industry-managed Flood Re program for pooling flood risk may face higher-than-expected claims in the future, according to Fitch ...