Regulation/Legislation

The Obama administration's initial comprehensive white paper on financial services regulatory reform explicitly acknowledged that traditional property and casualty insurers did not cause the current fiscal crisis.

Insurance products would be mostly exempt from oversight by the proposed U.S. Consumer Financial Protection Agency under legislation submitted to Congress last week by the Treasury Department.

An insurance industry official told a congressional panel that lawmakers must be careful to ensure any expanded federal insurance does not artificially suppress rates or crowd out private carriers.

A longtime Allstate agent and veteran of the Florida House of Representatives has announced his candidacy for Florida chief financial officer in a race likely to see some focus on the state's fractured insurance market.

Florida's insurance commissioner has released a letter detailing how, despite hurricane concerns, carriers are continuing in the state insurance market, raising capital and forming new companies.

The Hartford Financial Services Group is suing Arch Insurance Group for allegedly poaching its financial products division of executives and stealing trade secrets.