Regulation/Legislation

Florida's department of insurance has approved State Farm's request to eliminate some discount programs to homeowners that a company spokesman said would have minimal impact on the company's earnings.

A California state appeals court has ruled in a fatal malpractice case brought against a veterinarian that a pet owner is not entitled to recover emotional damages.

Maurice Greenberg, former head of American International Group, has agreed to pay $15 million to settle charges of fraudulent accounting to boost the company's financial outlook, the U.S. Securities and Exchange Commission announced.

Attorney James J. Wrynn, who was recently named head of New York's state-run workers' compensation insurer, is now in line to be the state's new insurance superintendent, NU Online has learned.

The health care insurance industry's main lobbying group asked political leaders to "stop demonizing the industry" for its stance on health care insurance reform and restated objections to any "public plan" offering.

American International Group's property and casualty business gained further distance from its beleaguered parent with the creation of a special-purpose vehicle and a second brand name change--to Chartis.