News

A meeting of insurance regulators and state legislators was interrupted by protestors who say health insurance company lobbyists are working to block states' efforts to implement the recently passed health care reform legislation.

A case involving the alleged inappropriate donations of two insurance companies and political actions committees to Insurance Commissioner John Oxendine could be referred to the state prosecutor for investigation.

New legislation and structuring for captives in a number of domiciles has made formation of captives--once limited to large global organizations--attractive to smaller companies as well, a captive management company said in its newsletter.

A regulator said insurance commissioners are looking to state legislators to provide authority to obtain information about a holding company's non-insurance entities.

Regulators' interest in insurers' use of credit-based insurance scores produced lively reaction from insurance association representatives and a consumer advocate during a committee meeting on property and casualty insurance issues.

Auto insurer Progressive reported July net income was down about 1 percent from the prior year to $113.2 million.