Regulation/Legislation

Insurers are strongly objecting to a proposed regulation that would require officials of an insurance company being liquidated by Federal Deposit Insurance Corp. to prove that they were not responsible for the company’s failure and therefore liable for damages.

The Oklahoma legislature has passed a bill that would preclude uninsured motorists involved in accidents from recovering damages beyond medical costs, property damage and lost income.

American International Group Inc. (AIG) and the U.S. Department of the Treasury made available 300 million shares priced at $29 per share, which raised about $9 billion.

Florida Gov. Rick Scott’s approval rating has reached a new low, with 57 percent of survey participants not happy with the job the new governor is doing; only 29 percent approve.

Agent associations are criticizing what they say are federal efforts to strip away crop-insurance servicing components from their members.

The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission have defended the idea of keeping actively traded insurance products out of the insurance products exclusion in a proposed swaps definition.