Regulation/Legislation

While flood insurance might represent the biggest growth opportunity for private carriers in years, its no certainty the industry would be eager or even willing to take on a greater share of such exposures unless conditions are established to give them a reasonable chance of making a profit.

As cyber-security concerns rise, interest in insurance is up and legislators are trying to pass laws. But some groups are making sure privacy issues are adequately addressed before lawmakers go too far.

MetLife Inc., the largest U.S. life insurer, will pay $60 million after New York watchdogs found subsidiaries solicited business in the state without a license and made intentional misrepresentations to regulators.

Cary, N.C.-based The Pantry, Inc., has formed Cellarium Insurance Company, Inc., a pure captive insurance company.

Cary, N.C.-based The Pantry, Inc., has formed Cellarium Insurance Company, Inc., a pure captive insurance company.

The Florida Senate unanimously passed a bill that authorizes private companies to write flood insurance in the state.