Captives

Looking to avoid a repeat of the problems that nearly took down American International Group, a regulator said insurance commissioners are looking to state legislators to

While American International Group is the only property and casualty insurer expected to be deemed "systemically important" under financial services reform, that designation is expected to diminish over time, Moody's said in a recent report.

As with other sectors of the insurance industry, the risk retention group market has seen a contraction in recent years as a result of the financial crisis, but it is expected to hold steady this year.

Arturo Hoyo takes over as chair of the Florida Association of Independent Agents in September. The insurance veteran has more than three decades of industry experience, most of it in the densely populated Miami area.

There appears to be no relief for insurers in the buyer's market for commercial property and casualty coverage, as excess capacity and falling demand have prompted average rate cuts to accelerate.

President Barack Obama signed financial services reform into law last week, setting in motion an intense effort by interested parties to shape the regulations and government bodies that will implement the legislation to their liking.