Government Accountability Office

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  Reassessing Fraud Risk, Part 1

  By Denise Tessier  |  April 25, 2013

  The first in a two-part series examines the fraud epidemic, from claims risks to employee crime.

• Lawmakers Want More Transparency from FSOC

  By Reuters  |  March 15, 2013

  U.S. lawmakers on Thursday pressed a new financial risk council to release more details about closed-door meetings, saying the public needs to know more about what regulators are doing to prevent the next financial crisis.

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  Treasury to Sell Remaining AIG Shares and Profit from Investment

  By Arthur D. Postal, PropertyCasualty360.com  |  December 11, 2012

  The Treasury Department is selling today its remaining 16 percent of American International Group common shares, putting an end to the government’s 50-month shotgun financial tryst with the global insurer.

• TRIA Renewal: No Guarantee

  By Arthur D. Postal, PropertyCasualty360.com  |  November 12, 2012

  Working with the new Congress on a renewal of the Terrorism Risk Insurance Act (TRIA) is one of the primary lobbying goals of the P&C industry in 2013.

• GAO Requests Greater Transparency, Coordination from FSOC

  By Arthur D. Postal, PropertyCasualty360.com  |  September 14, 2012

  The agency created to quickly identify and address risks to the stability of the U.S. financial system needs greater transparency to do its job correctly, the Government Accountability Office says in a new study.

• Treasury Launching $18B AIG Stock Sale; Company on Verge of Fed Regulation

  By Arthur D. Postal, PropertyCasualty360.com  |  September 10, 2012

  American International Group is on the verge of becoming the first insurance holding company ever regulated by the federal government as the Treasury Department launches a public offering of $18 billion of AIG stock.

• Politics, Policyholder Sentiment Drive Rapid Residual Market Growth

  By Phil Gusman, PropertyCasualty360.com  |  July 12, 2012

  A combination of higher coastal populations, artificially suppressed rates for last-resort insurers, and the inability of insurers to charge rates commensurate with risk along the coast has driven the residual property market in hurricane-exposed states to new peaks in both exposure value and policy levels, says the Insurance Information Institute....

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  After Years of Delays, Congress Passes Long-Term NFIP Extension

  By Arthur D. Postal, PropertyCasualty360.com  |  June 29, 2012

  Congress today finally passed and sent to the President legislation providing long-term certainty for the National Flood Insurance Program.

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  Expected House Bill Would Extend NFIP for 1 Month; Buy Time for Senate

  By Phil Gusman, PropertyCasualty360.com  |  May 15, 2012

  Rep. Judy Biggert, R-Ill., plans to introduce a bill in the House that would extend the National Flood Insurance Program for one month, pushing the program’s expiration date back to June 30.

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  GAO: U.S. Could Make Over $15B from AIG Investment

  By Arthur D. Postal, PropertyCasualty360.com  |  May 7, 2012

  The U.S. government’s fiscal watchdog said today the federal government could ultimately make more than $15 billion from its investment in American International Group, an investment the government said was necessary to save AIG from insolvency.

• GAO, NRRA Spar over Federal RRG Law and What Comes Next

  By Anya Khalamayzer, PropertyCasualty360.com  |  April 25, 2012

  The battle between the National Risk Retention Association and the Government Accountability Office rages on as the private group has publicly criticized a GAO report calling for clarification of a federal law regulating risk retention groups.

• What's Next for MLR?

  By Laura Mazzuca Toops, PropertyCasualty360.com  |  April 25, 2012

  The medical loss ratio question is far from settled, as SCOTUS weighs the healthcare law’s constitutionality, and Congress debates two MLR reform bills.

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  The Week in Quotes

  By Staff Writers  |  April 13, 2012

  ACE's Evan Greenberg on government regulation, the Fed's Ben Bernanke on AIG and the "shadow-banking" system, Willis' Joseph Plumeri with advice for risk managers, and more.

• GAO Says Government Should Cap Crop-Insurance-Premium Subsidies

  By Arthur D. Postal, PropertyCasualty360.com  |  April 12, 2012

  The Government Accountability Office said today in a new report that the government should consider capping crop-insurance-premium subsidies for individual farmers or reducing subsidies for all farmers, or both.

• GAO Gives Ammunition to Change Medicare Reporting for NGHPs

  By Arthur D. Postal, PropertyCasualty360.com  |  April 5, 2012

  Based on a new Government Accountability Office study, the insurance industry and plaintiff’s lawyers are renewing their call for passage of legislation that they argue would make the Medicare Secondary Payment program work better.

• Congress Gets No Respect?

  By Ted Besesparis  |  February 27, 2012

  When Congress is clear, bureaucrats shouldn’t second-guess it