Regulation/Legislation

Marsh & McLennan Companies Inc. will pay the state of Connecticut $2.4 million to settle allegations of bid-rigging, price-fixing and illegally steering business to insurers .

Florida Gov. Charlie Crist has vowed to sign legislation that could raise home coverage rates up to 10 percent for more than one million policyholders with the state-created Citizens Insurance Corp.

If Bernard Madoff had been under the jurisdiction of insurance regulators, he would have been caught sooner, a National Association of Insurance Commissioners official said here.

A letter from a congressional committee probing American International Group's use of taxpayers' bailout money reveals that a still-secret company restructuring plan has quietly involved U.S. banking officials.

Fear was the most prevalent topic at the IIABA conference in Washington, with inflation, the deepening recession, federal regulation, health care reform and swine flu among the bogeymen raised.

The financially troubled and taxpayer-financed American International Group Inc. last week reported a net loss for 2009's first quarter of $4.35 billion, an improvement from the $7.81 billion net loss in the same period a year earlier.