Regulation/Legislation

The New York Insurance Department, after more than a year of consideration and a hearing, formally proposed a regulation expanding the list of difficult risks that can be insured by other than New York- licensed carriers this month.

The U.S. House of Representatives plans to speed up consideration of a measure to reform regulation of surplus lines insurance and reinsurance, industry lobbyists say.

Legislation that would clear the way for the use of auto parts from after-market suppliers for collision repairs was introduced Thursday in the House and Senate.

Florida Gov. Charlie Crist has vetoed a measure that would have permitted some insurers to charge unregulated property rates, stating that it would allow them to essentially "redline" areas of the state.

There is something unseemly about the face-off in U.S. District Court between Maurice "Hank" Greenberg and AIG over billions in stock supposedly set aside as incentive compensation for employees.

Creating a new federal consumer protection agency for insurance would result in "a duplicative, inefficient system that would add even more costs" for buyers, a top property and casualty industry official warned Congress last week.