Regulation/Legislation

American International Group Inc. and the U.S. Department of the Treasury say they plan to offer a small portion of stock for an unset price.

A page-one New York Times article this week slammed state captive insurance laws, stating that they allow companies to “conduct Bermuda-style financial wizardry” in the U.S., but the Times company, it turns out, has its own captive domiciled in New York.

A page-one New York Times article this week slammed state captive insurance laws, stating that they allow companies to “conduct Bermuda-style financial wizardry” in the U.S., but the Times company, it turns out, has its own captive domiciled in New York.

Republicans easily swatted down major changes to insurance regulation in a Texas House bill that would keep the current rules and bureaucracy in place.

A property and casualty industry official says he hopes the recent heavy Mississippi River flooding will reinforce the need for prompt congressional action for a long-term National Flood Insurance Program extension.

The Treasury Department announced it is creating an advisory committee on insurance comprised of state regulators, industry officials and academia.