Regulation/Legislation

Florida Insurance Commissioner Kevin McCarty has come out full force in support of property bill SB 2044, passed in the final hours of the 2010 Florida legislative session.

To promote business in the state, the New Jersey Department of Banking and Insurance said it is moving legislation for captive insurers in the state and is introducing legislation to promote growth in the reinsurance market.

As states exit the recession with a focus on saving money in the new economy, workers' compensation systems will have to strip out as many unnecessary costs as possible to be successful, a workers' compensation expert said.

A bipartisan amendment to the financial services reform legislation in the U.S. Senate is aimed at exempting insurers from paying for the resolution of large non-insurance financial services companies.

Four insurers who filled databanks with thousands of inaccurate reports on drivers have agreed to pay a monetary penalty and correct the record, Massachusetts Attorney General Martha Coakley announced.

Eight insurance industry trade groups have written the Senate urging it to reject an amendment they said would "substantially weaken" the proposed Office of National Insurance's authority to address international trade issues.