Regulation/Legislation

A letter from a congressional committee probing American International Group's use of taxpayers' bailout money reveals that a still-secret company restructuring plan has quietly involved U.S. banking officials.

The financially troubled and taxpayer-financed American International Group Inc. last week reported a net loss for 2009's first quarter of $4.35 billion, an improvement from the $7.81 billion net loss in the same period a year earlier.

A research firm's finding that closing a loophole for offshore insurers could cost U.S. consumers over $10 billion per year has sparked a heated debate involving some of the nation's biggest coverage buyers and sellers.

Florida Gov. Charlie Crist has vowed to sign legislation that could raise home coverage rates up to 10 percent for more than one million policyholders with the state-created Citizens Insurance Corp.

ORLANDO, FLA--The National Council on Compensation Insurance management said yesterday it expects to start using its new methodology for occupational risk classification on Oct. 1.

WASHINGTON--The Government Accountability Office said in a report released yesterday that inconsistencies remain in state licensing of insurance producers.