Regulation & Compliance
Court Rejects BP Appeal of Gulf Oil Spill Settlement Terms
BP Plc must abide by terms of a $9.2 billion settlement it reached with victims of the 2010 oil spill, a federal appeals court ruled in rejecting the company's objections that the deal is being ...
RSA Upgraded by S&P on Planned Share Sale, Buffett Risk Transfer
RSA Insurance Group Plc was upgraded by Standard & Poor's after Chief Executive Officer Stephen Hester announced a stock sale and a deal to transfer risk to Warren Buffett's Berkshire Hathaway ...
Texas Likely to Become an ‘NCCI State’ for Workers Comp; Question Is When
Texas will be privatizing many functions in its workers compensation system if Insurance Commissioner Julia Rathgeber approves a staff petition to adopt the National Council on Compensation Insurance ...
Treasury’s OFR Contemplating New Study of Systemic Insurance Risk
Expressing concern about risky business in the insurance sector, an advisory committee at Treasury is recommending that its financial data analysis office undertake a detailed study of the sector to ...
Records Reveal Fed Difficulty During Heat of 2008 Financial Crisis
Federal Reserve policymakers, in a tense meeting on one of the darkest days of the financial crisis, worried Lehman Brothers' failure would wreak havoc on a teetering financial system but feared ...
Republican Plan Includes Asset Tax for Largest Insurers, Banks
The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by Congress's top Republican ...
FASB Tables Convergence Efforts; What It Means for U.S. P/C Insurers
The Financial Accounting Standards Board announced in February that it will no longer pursue a full revamp of insurance contract accounting but instead will consider only targeted improvements. For ...
Most Profitable Insurer Piggybacks on Bank Sales Channel
BB Seguridade Participacoes SA's strategy of piggybacking on its corporate parent's 5,400 bank branches to sell policies is making it the world's most profitable insurer. The company will post a 44 ...