Regulation/Legislation

Consumer representatives have asked the Senate Finance Committee to drop a proposed provision of health care reform legislation giving state regulators rule-making authority to draft health insurance standards.

The Department of Health and Human Services is asking states, local authorities and health care groups to submit proposals within 30 days on programs the groups envision could reduce medical malpractice liability costs.

The New York Insurance Department has finally been accredited by the National Association of Insurance Commissioners after operating for nearly two decades without NAIC's official seal of approval.

Vice President Joe Biden told a meeting of insurance regulators that health care reform can be accomplished without harming the health insurance industry.

A probe of credit rating agencies was announced by the California Attorney General's Office right before his targets were called on the carpet during the National Association of Insurance Commissioners conference last week.

The Florida Office of Insurance Regulation and the Bermuda Monetary Authority have signed a memorandum of understanding, Florida Insurance Commissioner Kevin McCarty said.