Regulation/Legislation

An article in The New York Times comparing captive insurance to “the shadow banking system” has Vermont’s captive regulator puzzled and frustrated, because while some of the observations are true, they don’t add up to a fair representation of the captive industry, he says.

The Alabama legislature has passed a bill that would create a fund to assist coastal homeowners with retrofitting their homes against hurricanes.

Chubb & Son will pay an employee $110,000 as part of an agreement to resolve allegations that the company failed to promote an employee based on race.

The second round of P&C earnings reports for the first quarter reveal differing strategies for the challenging workers' comp line, struggles for regionals and rising retention rates for many primary carriers. The last trend may suggest the market is bottoming, P&C Insurance Analyst William Wilt notes.

Insurers need to step-up their compliance knowledge of sanctions if they want to avoid a fate similar to HHC Insurance Holdings, which paid a fine of over $38,000 for insuring aircraft used in Iran.

Insurer groups hailed the Florida Legislature’s passage of a wide-ranging property bill and have called on the governor to sign the legislation into law.