Regulation/Legislation

Missouri regulators say a judge has approved a proposal to allow Missouri Farm Bureau to assume the operations of three insurers made insolvent by the May tornado in Joplin.

The National Flood Insurance Program is operating on a temporary reauthorization that expires Friday as Washington continues to play winner-take-all politics.

If a bill rolling back the Federal Insurance Offices authority should pass, it would limit financial transparency and the effectiveness of regulatory supervision, according to Moodys Investors Service.

Progressive Direct has agreed to pay a $125,000 fine to Massachusetts because the automobile insurer told consumers it had used credit information to determine rates.

In such an eventful year, with dozens of compelling stories as strong contenders, determining the Top 10 of 2011 was no easy task. But, after a lot of laborand internal debatewe feel the final list weve put together successfully captures the essential news of the past 12 months.

A hard market now would be purely for the purpose of price gouging buyers of insurance, particularly commercial-lines insureds, according to an Americans for Insurance Reform report that says the industrys little understood economic cycle has been used to victimize policyholders for 35 years.