Regulation & Compliance
Defining Terrorism For Policies Not A Simple Task After Boston Tragedy
There are a number of issues involved in determining whether the Boston bombings tragedy would be considered a terrorist act for insurance purposes such as determining the applicability of terrorism ...U.S. SEC Looks To Ease Rules For Launching ETFs
The U.S. Securities and Exchange Commission may revive a proposal that would make it easier and cheaper to launch certain kinds of exchange-traded funds, according to interviews with SEC staff. Amid ...EU’s Barnier Warns U.S. Over ‘Radical’ New Bank Rule
A U.S. plan to force foreign banks to hold far more capital could sow discord among supervisors and lead to retaliation from abroad, European Union financial services czar Michel Barnier said on ...S&P Asks Federal Judge To Dismiss U.S. Fraud Lawsuit
Standard & Poor's asked a federal judge on Monday to dismiss a U.S. Justice Department civil suit against the rating agency, arguing the government's case is based on vague statements that cannot ...Texas Fertilizer Co. Didn’t Disclose Hazard Chemical Levels To DHS
The fertilizer plant that exploded last Wednesday, obliterating part of a small Texas town and killing at least 14 people, had last year been storing 1,350 times the amount of ammonium nitrate that ...A.M. Best Affirms Meadowbrook Ratings, But Outlook Negative
On Friday, A.M. Best Co. announced that the rating agency removed the "under review" status of "A-minus" financial strength ratings for Meadowbrook Insurance Group and its subsidiaries. The status of ...95% of N.Y. Sandy Claims Closed
Almost 95 percent of Superstorm Sandy-related personal and business insurance claims in the New York State have now been closed, regulators reported. The states compiles data from 24 major insurers ...China Moves to Curb Money Laundering; Banks Must Rate ‘Dirty’ Clients
Chinese banks must rate their clients' risk of criminal conduct on a scale of 1-5 as part of the central bank's moves to curb money laundering and fraudulent transactions estimated at hundreds of ...