Regulation/Legislation

Legislation to repeal the antitrust exemption for health and medical malpractice insurers has been modified to include scrutiny of those insurers' practices, an insurance trade group said.

The New York's no-fault auto insurance law needs reform because medical claim costs are soaring as big legal loopholes permit fraud, the Insurance Information Institute said.

The New York Insurance Department is continuing efforts to revive the New York Insurance Exchange, with an "ambitious" goal of having it ready in 2010, an official said.

Tuesday night's election results will have little impact on the property and casualty community, according to the assessment of one trade group.

The full House is unlikely to debate financial services reform legislation until the first week of December, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said.

Legislation to repeal the antitrust exemption for health and medical malpractice insurers "will have no significant effect" on premiums charged for private health insurance, the Congressional Budget Office reported.