Captives

Legislation proposed by Sen. Chris Dodd, D-Conn., would give specific authority to federal banking regulators to oversee insurance companies, especially if they pose a potential threat to the financial system.

Risk retention trade groups are urging prompt House action on legislation introduced last week that will allow their members to sell commercial property insurance.

Legislation will be introduced in the House allowing risk retention groups to sell commercial property insurance, according to an industry source.

Although the CEOs of four global insurers are seeing some green shoots of economic improvement, they predict a long, slow recovery and a soft insurance market cycle that could extend well into the decade.

Legislation will be introduced in the House allowing risk retention groups to sell commercial property insurance, according to an industry source.

In a bid to make it easier for producers to do business across state lines, the U.S. House of Representatives last week passed the National Association of Registered Agents and Brokers Reform Act on a voice vote.