Regulation/Legislation

FEMA objects to the lawsuit filed by the state of Mississippi that seeks to delay flood insurance rate hikes, contending only Congress can remedy the state's claimed harm.

The regulatory scrutiny that followed the financial crisis is forcing insurance CEOs to spend an inordinate amount of time on compliance to solve problems that do not exist and satisfy regulators who dont understand the industry, according to Hanover Insurance Groups chief executive.

The Oklahoma Supreme Court Monday cleared the way for the state to implement an administrative system for resolving disputed workers compensation claims. However the decision left industry trade groups at odds over the outcome.

The market share of Citizens Property Insurance Corporation, Louisianas insurer of last resort, is estimated to shrink to under 3% for the first time in six years following a seventh round of depopulation in 2014.

The NAIC Executive Committee meeting erupted into a biting referendum on the NAIC itself Monday, with Connecticut Insurance Commissioner Tom Leonardi motioning to hire an outside firm to conduct a corporate-governance review.

The global insurance watchdog has launched a consultation on how to set up a new system making key firms hold enough capital to avoid a collapse that would pose a risk to the financial system.