Regulation/Legislation

The head of a House committee said he will hold a hearing to probe allegations that Federal Reserve Bank of New York officials told American International Group not to disclose information about bailout arrangements.

Four insurance trade groups have drafted a letter urging lawmakers to give state regulators the job of setting rules governing health insurance administrative costs and sale of health policies through exchanges.

The Professional Insurance Agents of New York State Inc. said among the legislative items it will focus on in 2010 are issues involving coastal homeowners' insurance availability, producer compensation disclosure and auto insurance fraud.

The National Association of Insurance Commissioners has sent a letter to congressional leaders opposing the creation of a federal health choices commissioner.

The National Association of Insurance Commissioners said it wants to continue discussions with two state lawmaker groups that have criticized its national commission proposal.

Insurance Information Institute President Robert P. Hartwig has reported on a variety of insurer reform proposals to halt the spiraling costs of New York's no-fault auto insurance claims.