Markets

The nation's insurance regulators announced today that they are proposing their own draft measure to Congress modernizing state reinsurance regulation.

Leading executives, regulators and top analysts will address the major challenges ahead at the 21st annual Executive Conference for the Property and Casualty Insurance Industry, set for Nov. 12-13 in New York City.

Business and personal lines insurers who did not contribute to the financial crisis should not be the target of new consumer protection regulations, an insurance trade group representative told a House committee.

The global recession has demonstrated that insurers' reliance on the capital markets to fund catastrophe risk can put them at financial risk, said the president of the Insurance Information Institute.

American International Group has paid back about $62 billion of its $183 billion debt to the government, but whether it can repay the full amount is unclear, a government study said yesterday.

The U.S. Senate Finance Committee this week could add specific provisions curbing the cost of medical malpractice lawsuits when it acts on broader health reform legislation this week.

Swiss Re started the year in a tough spot, having reported a big loss for 2008 thanks in large part to ill-advised credit default swaps, and without enough capital on hand to maintain its "AA" rating from Standard & Poor's.

Federal and state activity to create rules and laws for the insurance industry has surged this year increasing demands on carrier resources, a consulting firm said.