Regulation/Legislation

American International Group completed a critical step in its effort to again become a completely private company, exchanging more of its government support for common stock owned by the Treasury Department and paying off its debt to the Federal Reserve Board in cash.

The ex officio of The Risk Management Society praised the New York State Insurance Department for tackling the issue of producer compensation disclosure when no other department would.

Competitive challenges in the property and casualty industry will continue into 2011, and insurers will need to stay ahead of factors such as cycle management, technology, and regulatory and accounting changes to separate themselves from competitors, Ernst & Young said in a recent industry outlook.

Insurance industry representatives presented a unified front in opposition to the New York City Fire Department’s plan to impose an accident tax on motorists.

The State of Vermont said it licensed 33 new captive insurance companies in 2010, down from the 39 it licensed in 2009.

The State of Vermont said it licensed 33 new captive insurance companies in 2010, down from the 39 it licensed in 2009.