Regulation/Legislation

The House plans to speed up consideration of a measure to reform regulation of surplus lines insurance and reinsurance, insurance lobbyists say.

A bill that would have banned credit scoring in Connecticut was altered and then died in the Senate at the end of a legislative session characterized as "challenging" by one insurance industry representative.

With the start of last week's hurricane season and continued congressional inaction on legislation reauthorizing and reforming the National Flood Insurance Program, the issue of dealing with catastrophic storms is reaching crisis proportions.

While industry association members who have worked with the outgoing NY insurance superintendent point to his handling of the AIG meltdown and WTC coverage dispute as his major accomplishments, Eric Dinallo shifts much of the credit to the agency.

I'm really sorry to hear that Eric Dinallo will be calling it a day as New York's insurance superintendent on July 3. He was a fair and effective regulator in the most trying of times, as well as press-friendly--always a plus in my book.

A bankrupt building supplies manufacturer owes New York $1.5 million for asbestos damage to city schools, an arbitration panel has ruled, the New York law department said.