Regulation/Legislation

A review of enforcement actions taken by the U.S. Treasury Department reveals that bankers are the primary violators of sanctions imposed against foreign governments, but a few property and casualty insurers and one broker have also received fines.

Legislation that would impose federal limits on medical liability lawsuits is headed to the House floor, and could be voted on within several weeks.

Republican members of the Senate Banking Committee are asking federal banking and securities regulators to slow down implementation of the Dodd-Frank financial services reform law.

The Government Accountability Office has sounded the alarm on National Flood Insurance Program shortcomings, and has called on Congress to restructure the program.

The role that insurance agents play in the health marketplace in 2014 and beyond will likely be left up to the states, said Joel Ario, head of the insurance exchange bureau of the federal Department of Health and Human Services (HHS).

Insurance industry trade associations are working with the New York governor’s office to discuss differences of opinion regarding a plan to merge the state’s insurance department with the Department of Banking and the Consumer Protection Agency.