Regulation/Legislation

Sen. Chuck Grassley is asking why federal officials believe an arrangement to let American International Group trade $25 billion of its government debt for a stake in two AIG companies is a better deal for taxpayers.

The Independent Insurance Agents & Brokers of New York has threatened legal action against the New York State Insurance Department over a proposed producer compensation rule it posted.

California Insurance Commissioner Steve Poizner said an inquiry has revealed state insurers hold $12 billion in indirect Iran-related investments and he will push them to divest, leading another regulator to say Poizner's effort should go national.

An effort to put a proposition on the Michigan ballot to change auto insurance regulation is drawing radically different reactions from interest groups.

Average U.S. automobile premium rates dropped by close to 3 percent in 2007 from the previous year with drivers in Washington, D.C. paying the most for their insurance, state regulators reported.

Legislation creating a Federal Insurance Office within the Treasury Department was passed by the House Financial Services Committee.