Regulation/Legislation

The chairman of a key subcommittee of the House Financial Services Committee today said he intends to move quickly to impose direct federal oversight of insurance, starting with a system to regulate systemic risk.

Consumer advocate and former insurance regulator J. Robert Hunter today said in congressional testimony that the federal government should take over capital, surplus and solvency regulation of insurance.

The National Association of Insurance Commissioners (NAIC) climate risk disclosure survey of insurers is a valid request for information, two regulators said after the concept was attacked by a think tank.

Michael G. Cherkasky, former Marsh & McLennan Companies chief executive, was appointed yesterday to take over as chairman of the scandal-scarred New York State Commission on Public Integrity.

Don't create a health care insurance program that cuts us out of the market, insurance agents' and brokers' trade groups have written congressional leaders.

Officials of a Florida independent agent's trade group hit state legislators today for what they said were actions on insurance putting homeowners at financial risk in the event of a big hurricane.