Regulation/Legislation

Federal Reserve officials woefully underestimated the potential cost of bailing out American International Group, according to a report issued by the Office of the Special Inspector General for the Troubled Asset Relief Program.

Consumer advocates again criticized the National Association of Insurance Commissioners for dragging its feet on credit scoring while attending quickly to issues of concern to the insurance industry.

Thanks to changes supported by carriers and agents, most industry groups are now satisfied with legislation creating a Federal Insurance Office within the Treasury Department that was passed last week.

It is no coincidence that when free markets encounter turbulence, stability in the regulatory environment suffers as a result.

Abuses in medical procedures are largely responsible for the collapse of silica litigation that tailed off just a couple of years after an explosion of cases in 2001, according to a new RAND Corporation study.

The National Association of Mutual Insurance Companies is voicing strong criticism of a model audit rule for insurance companies proposed by New Mexico Insurance Department officials.