Regulation/Legislation

Legislation clarifying the exempt status of Florida's non-admitted insurance industry from compliance with rate and forms laws was signed Thursday by Gov. Charles Crist.

Treasury Secretary Timothy Geithner will outline the thinking behind the Obama administration's regulatory reform proposals Thursday in rare consecutive hearings before the Senate and House financial services committees.

William P. White, who helped establish and build the Delaware State captive insurance operation, will be leaving at the end of July, National Underwriter has learned.

Texas Gov. Rick Perry said he plans to call the legislature back into session to finish some unfinished business that included the reauthorization of the state's Department of Insurance.

A House Republican financial regulation plan, due to be unveiled tomorrow, would require congressional authorization for aid to troubled non-banks such as American International Group but would not disturb state insurance regulation.

Bermuda companies Max Capital and Validus Holdings are continuing a public fight to Friday's finish date over which firm will merge with property-catastrophe reinsurer IPC Re.