Regulation/Legislation

Insurers are leafing through and interpreting the massive property insurance bill signed by Gov. Rick Scott, which addresses insurance issues related to replacement cost methodology, sinkholes, public adjusters, and claim filing periods.

Florida Gov. Rick Scott has signed into law a major property insurance reform bill aimed at addressing certain cost drivers in the market.

Benjamin M. Lawsky has been nominated to be the first superintendent of the New York State Department of Financial Services, and Mila Kofman resigned as Maine's head regulator after one year of a five-year term.

Inland Marine carriers are dealing with a soft market, increased competition in this historically profitable niche, and new federal regulations that complicate the assessment of risk.

A member of the Senate Banking Committee wants to make clear that he is concerned with how a new federal agency treats mutual insurers that could be declared systemic risks.

The proposed sale of 300 million shares of American International Group stock got a thumbs-up from Moody’s, which says the company has the right pieces in place to improve its operating return, but notes earnings volatility ahead as it faces a number of challenges.