Regulation & Compliance
New York Moves to Settle Workers Compensation Trusts’ Debts
The New York Dormitory Authority is borrowing $370 million this week to repay workers' compensation claims, the first sale under a regulatory overhaul that Democratic Governor Andrew Cuomo said will ...
Congress Should Weigh Adding Cyber Attacks to TRIA: Chertoff
The nation's lawmakers should consider adding cyber terrorism to the federal Terrorism Risk Insurance Act (TRIA) when they renew that reinsurance program, advises Michael Chertoff, former homeland ...
Chamber Wants Tighter Rules on Systemically Risky Designations for Non-Banks
The U.S. Chamber of Commerce is calling for rules that would make it more difficult for a group of regulators to subject financial companies to stricter oversight. A vote of three-quarters of the ...
RSA Ireland CEO Smith Quits, Says Made ‘Fall Guy’ in Accounting Probe
RSA Insurance Group Plc's Irish unit Chief Executive Officer Philip Smith resigned Nov. 28, saying he was made a "fall guy" amid an investigation into the insurer's accounting practices. The company ...
Easing of Iranian Oil Ship Insurance Sanctions Likely Months Away
A pledge by world powers to ease ship insurance sanctions on some Iranian oil exports is likely to take months to come into effect due to complex law and regulation and to insurers' unease over ...
A.M. Best Urges Reinsurers to Innovate, Close Disaster Coverage Gaps as Capital Markets ‘Get Comfortable’
Characterizing the threat of third-party capital as an "adrenaline shot to the heart" of U.S. and Bermuda reinsurers, A.M. Best urges the reinsurers to innovate beyond simply managing capital of ...
Swiss Voters Reject Strictest Executive Pay Limits in Ballot
Swiss voters rejected a proposal to limit executives' pay to 12 times that of junior employees yesterday, a measure that would have gone further than any other developed nation. The measure was ...
Consumer Bureau Hands Title Insurers Win Over Mortgage Disclosure Rule
A U.S. rule that would have wrapped title insurance into the total costs listed on a simplified mortgage-disclosure form was dropped by the Consumer Financial Protection Bureau after industry ...