Regulation/Legislation

The Travis County district attorney in Texas is now involved in an investigation of the state’s last-resort insurer, the Texas Windstorm Insurance Association.

American International Group Inc. said it repaid nearly $7 billion to the Department of the Treasury, using money raised from the sale of its equity stake in MetLife Inc. earlier this month.

Florida Senate President Mike Haridopolos threw down a gavel today to open the 2011 State Legislative Session, beginning a new round in the reform fight for the insurance industry.

Using reinsurance could reduce the burden of the National Flood Insurance Program on taxpayers, the head of the Reinsurance Association of America said.

The role of the Federal Insurance Office is “the biggest wildcard in regulatory reform,” and the agency “could very well end up having a significant effect on insurer operations and costs,” according to a Deloitte report.

Legislation that would provide agent-licensing standardization across state lines will be re-introduced in the House within 10 days.