Regulation/Legislation

The U.S. Supreme Court on Monday said it would not hear an appeal from insurer Louisiana Citizens on a class-action lawsuit that followed Hurricane Katrina, handing another victory to plaintiffs who are already owed more than $105 million.

The contributions of the figures selected as the industrys Top 25 Living Legends to P&C insurance have been epic, monumental, and are sure to be discussed and studied for decades to come. Each profiled visionary has fundamentally changed the way insurance is done, likely forever.

The Senate last night rejected an effort to further slash federal subsidies to the National Crop Insurance Program.

The R Street Institute graded and ranked all 50 states on the insurance regulation environments in each.

A federal judge rejected claims by two former Marsh & McLennan Cos executives that the big insurance broker colluded with Eliot Spitzer when he was New York attorney general to make them scapegoats in a bid-rigging probe, and avert criminal charges against their longtime employer.

Japan's lower house passed a bill on Friday to provide government guarantees on insurance for Iranian crude cargoes, a key step towards it becoming the first of Iran's big Asian oil buyers to get round new European Union sanctions.