Regulation/Legislation

American International Group Chairman and Chief Executive Officer Edward M. Liddy will leave the posts he took for $1 per year just nine months ago as soon as the embattled firm can bring on board a pair of replacements.

A health care consumer group is asking the Department of Justice to initiate an antitrust probe of health care insurers based on a study indicating huge consolidation in the industry over the past 13 years.

Dozens of state insurance regulators have descended on Congress, to urge that any federal insurance regulatory reforms should keep in place and build on the existing state-based regulation model.

Magazine publisher and former Republican presidential candidate Steve Forbes told an industry conference here that insurers should choose who will regulate them.

Treasury Secretary Timothy Geithner cautioned today that the government's involvement with American International Group is likely to be lengthy.

American International Group announced that with government monitors' approval it is reconfiguring its board with the nomination of six new members to give it a majority of new independent directors.