Regulation/Legislation

QBE Insurance Corporation has agreed to pay $10 million in restitution to New York homeowners it required to buy force-placed insurance as part of a settlement with the New York State Department of Financial Services.

Sen. Mark Warner says Congress should consider reauthorizing the Terrorism Risk and Insurance Act for 10 years or longer because it is in the long term economic interest of the nation.

California insurance regulators have been able to shore up a mutual California homeowners insurer weakened by the housing bust through a complex mutual-to-stock conversation.

The risk retention group industry is hailing a seminal Supreme Court ruling Tuesday which held that self-insured group health plans are entitled to enforce the terms of their plans as written.

The U.S. insurance industry says a subcommittee of the International Association of Insurance Supervisors continues to encourage countries to favor a subsidiary structurea move the industry claims limits freedom of organization.

The head of the Insurance Information Institute says in the wake of the bombing tragedy at the Boston Marathon that the stability of the terrorism risk insurance market is contingent on sustaining a federal terrorism risk insurance backstop.