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A group of banks seeking to prevent guaranty insurer MBIA from splitting into two companies says the company underestimated its losses by as much as $10 billion to the New York Insurance Department.

The National Association of Insurance Commissioners has posted a discussion draft outlining the economic assumptions regulators will use to reevaluate residential mortgage backed securities.

The NAIC is preparing to vote on a proposal that would end regulators' exclusive reliance on rating agencies for determining risks associated with insurers' residential mortgage backed securities investments.

Mr. Dammerman spent 38 years at GE, including serving on the GE board since 1994, as chairman and chief executive officer of GE Capital Services since 1998, and as a director of GE Capital Services fo

Mr. Dammerman spent 38 years at GE, including serving on the GE board since 1994, as chairman and chief executive officer of GE Capital Services since 1998, and as a director of GE Capital Services fo

CICA names 2008 award winners The Captive Insurance Cos. Association has named Thomas M. Jones the recipient of its 2008 CICA Distinguished Service Award, and the Housing Authority Insurance Group as the 2008 CICA Outstanding Captive Award

CICA names 2008 award winners The Captive Insurance Cos. Association has named Thomas M. Jones the recipient of its 2008 CICA Distinguished Service Award, and the Housing Authority Insurance Group as the 2008 CICA Outstanding Captive Award

Mr. Cabiallavetta, 63, joined MMC in 1999, the company said. He was chairman of UBS AG, which he joined in 1971. He is a member of the boards of directors of Altria Group Inc. and BlackRock Inc. Mr. C