The National Association of Insurance Commissioners announced it has selected global investment management firm PIMCO to reassess investments that insurers complained were undervalued by major rating firms.

A bill introduced in the U.S. House of Representatives would prohibit insurers from canceling or non-renewing homeowners insurance policies with houses containing Chinese drywall.

Pennsylvania regulators said they will take legal action against Kingsway Financial Services, Inc. over its attempt to shed its ownership of troubled Pennsylvania insurer, Lincoln General Insurance Company.

Consumer groups have chided the National Association of Insurance Commissioners' efforts regarding credit-based insurance scoring, saying regulators have ignored the credit issue.

After announcing the acquisition of Texas independent agency Insurance Alliance through its Marsh & McLennan Agency subsidiary, president and CEO Brian Duperreault said the brokerage could announce several more agencies by the end of the year.

The New York Insurance Department is continuing efforts to revive the New York Insurance Exchange, with an "ambitious" goal of having it ready in 2010, one official said.

A day after announcing the acquisition of a Texas agency through its Marsh & McLennan Agency subsidiary, Marsh & McLennan President and CEO Brian Duperreault said the brokerage could announce several more agencies by year end.

The health care reform bill passed by the House is a "trial lawyer's dream," and could have a "spillover effect" to the property and casualty industry, according to Insurance Information Institute (I.I.I.) President Robert P. Hartwig.