Risk Management

Newly proposed House legislation to end the insurance industry's anti-trust exemption has been attacked by two insurer trade group who call it a "punitive bill hinging on a false premise."

Eliot Spitzer the former New York governor and attorney general, who used to blister American International Group in press releases, is now hitting the company as a member of the press over a "scandal."

Florida CFO Alex Sink said she is "unimpressed" with auto insurers' justifications for using credit information in determining rates, and she voiced support for bills that would ban the practice.

The Montana Captive Insurance Association, Inc. (MCIA) said that a measure passed by the legislature that eases requirements for captive operations should strengthen the state's position as a captive domicile.

Two Democrats in the House introduced legislation today that would repeal the antitrust exemption afforded the insurance industry by the McCarran-Ferguson Act, but would retain the authority of states to regulate insurance.

The House voted today to impose a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.

California Insurance Commissioner Steve Poizner announced he will hold a hearing April 28 in San Francisco to investigate "why medical costs are skyrocketing in the workers' compensation system."

The NAIC Executive Committee has voted to appoint a staff designee to the IAIS Executive Committee to bring consistency to NAIC messages to the IAIS.