Regulation/Legislation

Texas Gov. Rick Perry said he plans to call the legislature back into session to finish some unfinished business that included the reauthorization of the state's Department of Insurance.

A House Republican financial regulation plan, due to be unveiled tomorrow, would require congressional authorization for aid to troubled non-banks such as American International Group but would not disturb state insurance regulation.

Bermuda companies Max Capital and Validus Holdings are continuing a public fight to Friday's finish date over which firm will merge with property-catastrophe reinsurer IPC Re.

Treasury Secretary Timothy Geithner needs to speak with state legislators, governors, and attorneys general when seeking information on insurance policy debates, the National Conference of Insurance Legislators advised him.

Five insurance trade groups from the property-casualty and life and health insurance businesses said they will meet next month in Washington to discuss health insurance reform concerns and lobby lawmakers.

The Obama administration will propose putting large insurance companies under control of a federal financial system risk regulator and probably a U.S. insurance regulator as well, according to a draft document.