Regulation/Legislation

Florida domestic insurer Olympus Insurance Company has satisfied state regulators with a corrective action plan to rectify concerns about the company's solvency.

AIR Worldwide (AIR) has received certification of its 2010 U.S. Hurricane Model by the Florida Commission on Hurricane Loss Projection Methodology.

The Louisiana legislature has passed a bill that would prevent insurers from canceling or nonrenewing homeowners policies because of Chinese drywall claims.

Insurer associations and auto repair shops in Rhode Island are sparring over a bill passed by the legislature that would require independent appraisals on vehicles when damages are thought to exceed $2,500.

The U.S. Department of the Treasury is seeking comments on the long-term availability and affordability of terrorism risk insurance.

The official start date of the Atlantic hurricane season was June 1, but no flood policies have been issued or renewed because the National Flood Insurance Program has expired, said two insurance groups, calling for a long term extension of the program.