Regulation/Legislation

Companies sued for creating damage by contributing to global warming have a major defense available against such charges, according to an attorney at a legal session for policyholders.

Moody's Investors Service, which had said last week it would not attend a hearing by insurance regulators concerning rating service failings, has changed its mind.

Standard & Poor's Equity Research said it had raised its opinion of American International Group shares to hold from sell, and company shares rose.

U.S. Rep. David Scott, D-Georgia, an advocate of multistate licensing for producers, was given the National Association of Mutual Insurance Companies' Federal Legislator of the Year Award.

Producers' acceptance of contingent commissions from insurers is "a clear conflict," but the controversial practice is unlikely to be banned unless more clients object to it.

With the upcoming January 2010 effective date fast approaching for the revised Model Audit Rule (MAR), insurance departments nationwide appear to be on track to unanimously adopt this set of regulations.