State insurance regulators, insurance carriers and independent insurance agents are concerned that redrafted legislation to create a federal insurance office makes the new agency too much like a regulator. Testifying before the House Financial Services Committee on the proposal to …
Congress got a look yesterday at a draft of legislation to create a federal insurance office that would work on international insurance issues as well as monitor the insurance industry and insurers for anything that might be a threat to …
Whether they’re young or old, entrepreneurs always have a hunger to come up with the next big idea, or to do something better than anyone else. That’s the spirit that lives in each and every small business owner. That’s what …
Moody’s Corp. chief executive told lawmakers on Wednesday that his credit rating firm may agree to disclose some of its fees to regulators, but opposes a plan to impose greater liability on the sector. At a hearing to examine a …
Former Attorney General John Ashcroft and one of his hardline lieutenants face the rare prospect of being held personally liable for alleged violations of individuals’ rights in the aggressive aftermath of the 2001 terrorist attacks. High-ranking officials usually are protected …
The U.S. Senate passed a temporary extension of the National Flood Insurance Program (NFIP) and President Barack Obama signed the legislation into law just few hours before the program was set to expire yesterday. The NFIP extension was passed as …
A U.S. Senate panel Tuesday rejected a government-run “public” insurance option as part of a broad healthcare overhaul, handing insurers an early victory and setting the stage for a long fight over one of the bill’s most contentious issues. The …
The former head of compliance overseeing Moody’s Corp.’s credit ratings business was routinely ignored when he warned that the firm was not properly monitoring municipal bond ratings, according to a letter obtained by Reuters Tuesday. Scott McCleskey, who is scheduled …
State insurance regulators are throwing their weight behind a federal measure that would change the way reinsurance is regulated. The National Association of Insurance Commissioners (NAIC) is supporting the Reinsurance Regulatory Modernization Act of 2009, which has not yet been …
Safety investigators told federal regulators three years ago that it was dangerous for bus drivers to talk on cell phones while driving and recommended a ban. The National Transportation Safety Board put that recommendation on its list of most important …
