News

While the massive property bill SB 2044 remains in the wings, Florida Gov. Charlie Crist has signed several insurance-related bills into law.

Armonk, N.Y.-based bond insurer MBIA, Inc. reported a $1.5 billion loss for the first quarter of this year driven by a $2.2 billion unrealized loss on insured credit derivatives.

The National Council on Compensation Insurance filed for a 4.2% rate decrease in Florida on May 7.

Sen. Jeff Merkley, D-Ore., has introduced an amendment to financial services regulation now pending in the Senate that would drastically reduce the authority of the Office of National Insurance it would create.

In his first annual shareholder meeting address, American International Group chief executive officer Robert Benmosche highlighted positives such as the company's strong 2010 first quarter results and increased retention of business and employees.

While two agent groups have said they will sue over New York State's upcoming fee disclosure regulations another agent group reported great success in a meeting on rules issues with regulators.