American International Group is planning to buy back less stock from the Treasury this year than analysts had expected, it announced today.

Legislation imposing sweeping reforms on the California workers compensation system was passed by the state legislature late Friday and sent to Gov. Jerry Brown for signature.

The Federal Insurance Office (FIO) is being told the government should support the private reinsurance market and think long and hard before creating any government backstop that would alter the current system.

State regulation of the U.S. insurance industry is inefficient and costly, the American Insurance Association says in a new comment letter.

Proposed workers compensation reform legislation introduced in the California state legislature is getting a thumbs down from insurance trade groups.

The Federal Insurance Office is being told the government should support the private reinsurance market and think long and hard before creating any government backstop that would displace the current system.

The remnants of securities contained in facilities created by the Federal Reserve Bank of New York to help bail out American International Group in 2008 were sold today, a key milestone in the companys efforts to end the governments equity interest in AIG.

Mixed reviews follow a private contractors actuarial report that projects substantial savings for insurers and consumers due to Floridas new Personal Injury Protection (PIP) auto-insurance law.