Regulation/Legislation

Asked recently to list some of the biggest factors behind rising insurance costs, Florida Insurance Commissioner Kevin McCarty named the usual suspects, including the rising price of reinsurance and the overall economic downturn.

Homeowners insurance rates for Citizens Property Insurance Corp., Florida's insurer of last resort, will rise an average of 5.4 percent, the state's Office of Insurance Regulation announced.

Authorities in Louisiana have teamed up with insurance interests for a major bait car program to combat vehicle theft in the state, it was announced yesterday.

Legislation to control non-bank firms large enough to pose systemic financial risk should complement not displace state regulation, an insurance commissioner told House lawmakers.

The House Democratic leadership proposed health care reform legislation that includes a public option at an estimated cost of $894 billion over 10 years.

Property and casualty insurers can expect to be hit by a swirl of claims arising from swine flu that include actions against homeowners and businesses, a medical malpractice defense attorney is predicting.