News

Health insurance coverage should be required for all, similar to the way most states require auto insurance, the National Association of Insurance Commissioners said late last month.

At the group's June meeting, the National Association of Insurance Commissioners discussed a proposal to set up a new commission aimed at facilitating regulatory uniformity, National Underwriter learned recently.

News of a discussion among a group of state regulators aimed at creating a National Insurance Supervisory Commission isn't being welcomed by one state legislator.

U.S. reinsurers took a beating in the past year, evidenced by a $6.9 billion drop in their overall level of surplus.

AIG, its former Chairman and CEO Maurice R. Greenberg and its former CFO Howard I. Smith announced last week that they have jointly agreed on terms for binding arbitration of various legal disputes.

The Chubb Corp. declared a regular quarterly dividend of 35-cents per share.