The Independent Insurance Agents & Brokers of New York has threatened legal action against the New York State Insurance Department over a proposed producer compensation rule it posted.

California Insurance Commissioner Steve Poizner said an inquiry has revealed state insurers hold $12 billion in indirect Iran-related investments and he will push them to divest, leading another regulator to say Poizner's effort should go national.

ACORD announced it has received another contribution from IBM to help the insurance industry's standards organization develop the ACORD Framework Information Model.

Most transportation insurance rates in the third quarter were decreasing as marketplace competition has increased, according to a brokerage firm survey.

Property and casualty insurers will need to increase rates in 2010 as they will continue to see poor returns on their investments next year, a Swiss Re economist said.

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Average U.S. automobile premium rates dropped by close to 3 percent in 2007 from the previous year with drivers in Washington, D.C. paying the most for their insurance, state regulators reported.

Four trade groups representing large insurers have sent a letter to the House Financial Services Committee opposing changes to legislation creating a Federal Insurance Office.