Regulation & Compliance
New York Grabs ‘Shaky’ Lead Over London As Top Financial Center
New York replaced London as the world's leading financial center for the first time, after the City was rocked by a series of scandals and questions over the U.K.'s place in the European Union. New ...
A.M. Best Downgrades Public Service, Affiliates Pending Re for Adverse Development
A.M. Best has downgraded the financial strength rating of Public Service Insurance Co. and its affiliates, Paramount Insurance Co. and Western Select Insurance Co., to "B+" (Good) from "B++" (Good) ...
U.S. SEC Charges Brokers in Scheme to Profit From Terminally Ill Through VA Sales
U.S. securities regulators filed civil charges against two brokers and seven others, saying they were involved in a scheme to profit from the death of terminally ill patients through variable annuity ...
Senate OKs Bill to Curb Flood Insurance Hikes
The Senate on Thursday went along with the House of Representatives by passing a bill to reverse flood insurance reforms and curb flood insurance premium increases. The Senate approved H.R. 3370, the ...
7 of 25 Largest Class-Action Settlements Since 1995 Approved Last Year: ISS
Seven of the 25 largest class-action settlements since passage of the Private Securities Litigation Reform Act of 1995 were approved in 2013, according to a report released by the Securities Class ...
Feds Will Play a Role in U.S. Insurance Regulation, FIO’s McRaith Says
While Treasury's Federal Insurance Office is promoting a hybrid landscape of state and federal insurance regulation, discussion in insurance regulatory circles still centers on preemption of state ...
Consumer Group Offers Fix for Uninsured Motorist Problem
Most uninsured motorists in the U.S. are responsible, safe drivers who simply cannot afford to purchase liability coverage with their income but who still need to drive for their work, according to a ...
APIW to Honor Vaughan as 2014 Insurance Woman of the Year
The Association of Professional Insurance Women has selected Therese M. Vaughan as this year's recipient of the APIW Insurance Woman of the Year Award. A cocktail reception and award ceremony ...