Regulation/Legislation

Signs are emerging that the sigh of relief by large insurance companies that they escaped federal oversight in the post-aig-bailout world may have been premature.

A proposed flood insurance reform bill contains language that calls on the Federal Emergency Management Agency (FEMA) to conduct a study on privatizing the National Flood Insurance Program

The emerging conflict between state and federal regulators over regulation of large insurance companies is the “cutting-edge issue as it relates to insurance regulation at this time,” according to several industry lawyers.

Of the 14,625 suspected health care fraud reports that the New York State Insurance Department received, 12,807 of them involved the state's no-fault system, according to the insurance superintendent's annual fraud report.

The House today passed legislation repealing the much-criticized 1099 reporting provision of the health care law, setting the stage for talks with the Senate over how to pay for the repeal.

Signs are emerging that Michael McRaith, Illinois insurance director, will soon be named the first director of the Federal Insurance Office.