Regulation/Legislation

Uber Technologies Inc. and other ride-sharing companies that let people arrange transportation in private cars would be required to boost insurance for drivers under legislation sent to California Governor Jerry Brown.

As Congress prepares to return to work Sept. 8 for an abbreviated session, a priority for the insurance industry will be ensuring that legislators keep on their radar enactment of a bill aimed at streamlining agent and broker licensing.

In the parlance that weather-guessers would use in describing the situation, the outlook for long-term reauthorization of a federal backstop for terrorism risk insurance in its present form is cloudy, and that is being optimistic.

A federal judge has cleared for trial a claim by former AIG executive Maurice Hank Greenberg that the U.S. government acted inappropriately when it took control of AIG in September 2008.

Essent Group Ltd., the mortgage insurer backed by George Soros and Goldman Sachs Group Inc., is beating older rivals in the stock market as the U.S. plans to tighten regulation of the industry.

New rules from the National Assoc. of Insurance Commissioners would give regulators greater insight into insurers corporate-governance practices.