Regulation/Legislation

Nationwide Insurance Company is proposing the creation of a government backstop for insurers willing to offer a homeowners policy for both wind and flood coverage.

Insurance regulators are proposing their own draft measure to Congress modernizing state oversight of reinsurance.

State insurance regulators, after a hearing examining the flawed performance of top rating agencies in assessing the risk of complex securities held by carriers, left unresolved what their next move will be.

Health care reform legislation that the insurance industry can support took a giant step forward last week when the U.S. Senate Finance Committee rejected two amendments that would create a "public option" to compete with private carriers.

Rating agencies betrayed not only the public trust "but also their special status under our laws," the chair of a House Financial Services Subcommittee charged last week.

Rating agencies took a well-deserved beating last week when they were called on the carpet by state regulators wary of trusting their assessments going forward.