Regulation/Legislation

Even though securities suits related to the Madoff Ponzi scheme and the credit crisis trailed off in third-quarter 2009, financial firms were still the leading type of company sued with one-third of the cases filed, a research firm reported.

The authority of federal regulators to oversee and liquidate large, troubled insurance companies should be significantly pared back in legislation Congress is considering to deal with systemic risk to the economy, industry leaders are arguing.

Insurance agents are voicing dismay over health care reform legislation passed by the House late Saturday, and are hopeful that a more acceptable product can be produced by the Senate.

The U.S. Senate's vote to continue the National Flood Insurance Program for only 46 days drew fire from an insurance agent group, which warned against playing "Russian roulette" with policyholders.

Legislation to create a Federal Insurance Office should contain language allowing it to preempt state law where it conflicts with some limitedinternational trade agreements, an official said.

As state fraud bureaus across the nation face increasing economic pressures, Arizona officials are considering eliminating their fraud bureau completely.