Regulation/Legislation

West Virginia Insurance Commissioner Jane Cline, who has a background as a state government official and consultant, has been elected the National Association of Insurance Commissioners president for 2010.

The last thing American International Group needs during this crucial renewal season is any hint that reserves for its property and casualty insurance carriers might be inadequate.

A National Association of Insurance Commissioners working group has drafted recommendations as to how the organization should deal with its reliance on national rating agencies to evaluate insurers' investments.

The National Association of Insurance Commissioners should hold fewer non-public meetings and adopt greater transparency and public accountability, according to consumer advocates.

The New York State Insurance Department said individuals seeking licenses to conduct business in various professional categories as of Dec. 15 must submit electronic fingerprints with their license applications.

News about AIG broke fast and furiously last week, with questions raised about its reserve adequacy, deals closed to reduce its government debt, and an announcement that it had buried the hatchet with former CEO Maurice Greenberg.