Risk Management

A unit of European Union reached informal agreement yesterday on Solvency II, a broad framework to enhance insurer capital requirements and supervision. The action drew a positive response with some reservations from some insurance segments.

Rep. Jackie Speier, D-Calif., is scheduled to address the National Association of Professional Insurance Agents next month on the downside of federal regulation, the organization said.

Treasury Secretary Tim Geithner voiced support today for any legislation creating an optional federal insurance charter or Office of Insurance Information that would help the White House improve its oversight and understanding of insurance.

The Obama administration today asked Congress for authority to create a federal regulator with authority to administer large insurance companies.

National Underwriter's Property & Casualty Web site has changed.The new URL is www.Property-Casualty.com--complete with enhanced options to give readers more opportunity to access NU content and offer feedback.

There was no discrepancy between American International Group's chief executive approving an expedited payment of bonuses and his remarks that he was unhappy with them, a company spokesperson said yesterday.

A.I.G. said a number of its executives who work outside the United States for its troubled Financial Products unit have returned bonuses that have drawn criticism from U.S. and state officials.

Connecticut State Attorney General Richard Blumenthal yesterday announced that Federal Reserve Chairman Ben Bernanke was wrong when he said Connecticut law prevented him from attempting to recoup American International Group bonus monies.