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Add Bermuda's Renaissance Reinsurance Ltd. to the list of foreign reinsurers taking advantage of Florida's reduced collateral requirements.

Local reinsurers are expected to benefit from new regulations in Brazil that require local insurance companies to cede 40 percent of reinsured risk to local reinsurers, according to Moody's Credit Outlook.

Regulatory initiatives dealing with implementation of the financial services reform law, and such old business as providing certainty to the NFIP will keep p&c insurance industry lobbyists extremely busy this year.

Local reinsurers are expected to benefit from new regulations in Brazil that require local insurance companies to cede 40 percent of reinsured risk to local reinsurers, according to Moody's Credit Outlook.

The Senate this afternoon passed tax cut legislation strongly supported by the property and casualty insurance industry--especially agents.

American International Group was the apparent biggest user of the Federal Reserve Board's short-term lending facility after it ran into financial trouble starting in September 2008, according to documents released by the Fed Wednesday.

The American Insurance Association (AIA) said insurers should have a blanket exemption from the "Volcker Rule" based on language contained in the financial services reform legislation passed by Congress.

Three more foreign reinsurers--all based in Bermuda--have reached agreements with the Florida Office of Insurance Regulation to participate in the state's insurance market under modified regulatory terms.