Personal Lines

Even as some insurance industry bonuses draw criticism, Jack Windolf, the chief executive officer of Bollinger Insurance Solutions brokerage, is drawing national acclaim for dishing out $1,000 to all 434 company employees from his own pocket.

A bill introduced in Congress yesterday establishing some federal regulation over the insurance industry has drawn opposition from an insurance agents group while the two major insurers are supporting the move.

Associate Editor Mark Ruquet in an audio commentary considers whether New York's former crusading attorney general caused AIG's meltdown. Click "Podcasts" on NU's new Web site, www.property-casualty.com.

The New York State Insurance Department and the Autoridade Monet?ria de Macau- Macau's insurance regulator - have reached a memorandum of understanding which will allow for closer cooperation between the two regulators.

Former American International Group Chief Executive Officer Maurice Greenberg arrived here to tell a House panel how the government should fix AIG and heard a congressman call him the wrong witness because of his legal problems.

Bermuda has launched an effort called Bermuda First to help jump-start the island's economy in light of the global financial crisis, said the co-chairman of the initiative.

Legislation to impose some federal regulation on insurers and create a federal insurance charter mechanism has been introduced by two House members who said the American International Group meltdown underscores the need for their measure.

The federal government is undertaking a multipronged probe of the bonuses paid American International Group executives, including an initiative by the Department of Justice of the options available to recover the funds.