Risk Management

President Obama has signed the historic bill reforming regulation and financing of health care, saying the bill provides "reforms that generations of Americans have fought for and marched for and hungered to see."

NAMIC Chair John T. Hill II discusses some of the critical issues confronting the industry in the first of a two-part exclusive video interview with National Underwriter at www.property-casualty.com.

Salaries of the 25 top executives at American International Group and other companies receiving government help must be cut on average by one-third from last year's levels, government pay czar Kenneth Feinberg said.

Insurers have secured key changes in financial services reform legislation easing a proposed financial requirement for large firms and eliminating tighter regulation of financial product sales.

Risk retention group leaders are urging prompt House action on legislation introduced this month that will allow RRGs to sell commercial property insurance.

Insurers with assets of more than $50 billion would not be subject to the pre-funding provisions of the resolution authority that would be created in Senate financial services reform legislation to deal with firms posing a systemic risk to the economy.

Rather than work to destroy the health reform bill passed by Congress, the insurance industry and Republican lawmakers should work to improve it over the next few years, suggests NU Editor Sam Friedman on his blog at www.NUSamSoapBox.com.

The Hartford has announced that it plans to repay the $3.4 billion it borrowed from the Treasury last year under the Troubled Asset Relief Program.