Regulation/Legislation

Insurance Commissioner Kevin McCarty will assume leadership post in January.

Officials of Chubb and Liberty Mutual and consumer advocate Birny Birnbaum are among 15 people named today to the Treasury Departments Federal Advisory Committee on Insurance.

The U.S. solvency regime is expected to achieve equivalence with the European Union's Solvency II requirements, Fitch Ratings says in a recent comment.

A new Government Accountability Office report about the federal rescue of American International Group shows there was vigorous debate about whether the Federal Reserve should provide assistance to the insurer, and what the state-level and international implications would have been should the government not act.

Florida Insurance Commissioner Kevin McCarty and Georgia Insurance Commissioner Ralph Hudgens say they have renewed a partnership agreement on a contingency plan between their respective states.

Connecticut officials say they reached a $1.7 million settlement with a Boston-based insurance broker over allegations that the broker failed to provide proper information to its customers about commissions and overcharged them in the process.