Regulation/Legislation

The New York State Supreme Court in Albany County has rejected the arguments of two agent associations that the state insurance department's planned producer compensation disclosure regulation is arbitrary and unnecessary.

The U.S. residual property insurance marketplace continued to grow despite the economic downturn, according to a report issued by the Insurance Information Institute.

Treasury deputy secretary Neal Wolin told London stockbrokers today that the Obama administration believes the new financial services reform law gives it the power to

State insurance legislators are winning support for a compromise model law designed to implement the federal surplus lines modernization act.

Recent turmoil in financial markets has prompted global insurance regulators to consider sweeping reform designed to protect policyholders and promote confidence in the financial stability of the insurance sector.

In a series of filings with the Securities and Exchange Commission, American International Group (AIG) submitted adjusted financial statements taking into account several transactions meant to ultimately repay taxpayers.