Regulation/Legislation

Senior members of the Senate Judiciary Committee clashed over whether the government can force individuals to buy health insurance, with Senate Democrats ultimately blocking a Republican effort to repeal the health care reform law enacted last year.

Now that we are one full month into 2011, it’s a good time to check the inventory levels of some key legislative and regulatory developments for the P&C insurance industry and consider what lies in store for the months ahead.

If the Dodd-Frank Act had been in place years ago, regulators probably still would not have intervened to stop problems at American International Group’s Financial Products unit, three former U.S. financial regulators said last week.

New Connecticut Gov. Dannel Malloy chose the chief executive of an investment advisory and banking firm to head the Department of Insurance.

A Michigan congressman is asking fellow members of Congress to support legislation that would phase out the National Flood Insurance Program.

The Senate failed last night to pass legislation repealing the health care reform law, but did pass legislation repealing a provision of the law that imposed a widely criticized tax-reporting provision.