Regulation/Legislation

Compromise legislation proposed by the Obama administration and Rep. Barney Frank, D-Mass., would give federal banking regulators broad authority to regulate large, troubled insurers as well as resolve them, as necessary.

New York Attorney General Andrew Cuomo announced the creation today of a new system that will establish more objective rates for the nation's health insurers to charge for out-of-network medical treatment.

A proposal to allow the Treasury Department to enter into "international agreements" on solvency measures is drawing strong objections from state insurance regulators

Any legislation creating a Federal Insurance Office will include a strong role for the Treasury Department in negotiating international insurance agreements, the leadership of the House Financial Services Committee made clear.

American International Group said in a filing with the Securities and Exchange Commission that it has paid $12.1 million in past-due executive retention payments, including $4 million to four top employees.

Health care reform legislation that will go to the Senate floor next week will include a government insurance plan, Senate Majority Leader Harry Reid, D-Nev., announced.