Regulation/Legislation

More than half of small U.S. businesses surveyed by the Ponemon Institute were found to have experienced at least one data breach in the entire span of their operations, but only a third notified customers of the situation.

Former Nebraska senator and current NAIC CEO Ben Nelson, along with two colleagues, announced the launch of Heartland Strategy Group LLC last week. This brings the portfolio of jobs Nelson is juggling to four.

Legislation has been introduced in both the House and Senate that would slash crop-insurance subsidies to pre-2001 levels.

The California insurance commissioner Tuesday said he would defend in court his decision to require Mercury Insurance Co., to reduce its homeowners-insurance rates in the state effective in June.

Legislation is currently pending in the Oklahoma legislature that proponents say would privatize its nonprofit workers compensation insurance fund and turn it into a private domestic mutual insurance company.

The Financial Stability Oversight Council is in the final stages of evaluating an initial set of nonbank financial companies for potential designation as SIFIs, or systemically important financial institutions, according to remarks made today by Mary Miller, U.S. Treasury Under Secretary for Domestic Finance.