Regulation/Legislation

New York State governor Andrew Cuomo has named 10 banks, including Capital One Financial Corp and SunTrust Banks Inc, that he says are sitting on $41 million in insurance money owed to victims of Superstorm Sandy, which hit the northeastern United States last year.

The CEO of Louisianas last-resort insurer says he plans to retire and leave the Gulf Coast the day hurricane season begins.

Agent and broker groups voiced strong support at a Senate hearing today for legislation that would create a streamlined non-resident producer licensing system.

Legislation establishing a national catastrophe fund has again been introduced in the House, and has again drawn the ire of perennial critics.

The board for Louisiana Citizens Property Insurance Corp. voted Thursday to borrow $100 million through bonds to cover a cash shortfall of $70 million, despite the objections of the states Treasurer.

The Obama administration has imposed sanctions on Iranian companies it says provide insurance services to the country's main petroleum shipper, part of the latest U.S. effort to choke funding to Iran's disputed nuclear program.