Regulation/Legislation

Creation of an optional federal charter for insurers will be on Congress' 2011 agenda because it has strong bipartisan support, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, has told state insurance legislators.

A major independent agent leader threw down the gauntlet, challenging contingent fee opponent Willis to benchmark their brokers' upfront commissions against industry averages when delivering policies to clients.

New Jersey Insurance Commissioner Thomas B. Considine has proposed to repeal a regulation to establish new rating territories in an effort to level out automobile insurance rates throughout the state.

A proposed New York producer compensation regulation complies with the law and is necessary to inform consumers about possible conflicts of interest, the state's attorney general said in a court filing.

The government may sell its stake in American International Group Inc. through a public stock offering sometime after 2013, according to the U.S. Government Accountability Office.

The Florida Office of Insurance Regulation has issued a Cease and Desist Order to the Association of Independent Mangers for the sale of unauthorized health insurance plans.