Regulation/Legislation

Florida Gov. Charlie Crist has vetoed a measure that would have allowed some insurers to charge unregulated property rates stating that it would allow them to essentially "red line" areas of the state

American International Group, Inc. announced today it has forged an agreement with the Federal Reserve Bank of New York to have $25 billion government debt reduced by giving taxpayers a stake in two AIG firms.

ASARCO, an Arizona-based copper company that declared bankruptcy in 2005, will have its day in court regarding the payment of legal expenses if it prevails in its case against Fireman's Fund Insurance Company, a Texas judge ruled.

American regulators must put into place "better, not simply more" financial services rules and regulators, London insurance market leaders warned.

Competitive Enterprise Institute, the Washington-based conservative think tank, said it has launched a Web site centered on government regulation in the insurance industry.

California Gov. Arnold Schwarzenegger is seeking authorization to sell off a portion of the state's workers' compensation insurer of last resort, a spokesperson for the governor said.