Compliance

The New York State Insurance Commissioner believes several agencies could each oversee a portion of the derivatives market.

The open meeting will enable comment on proposed plan to regulate annuities as securities.

Senate Finance Committee releases draft of proposed changes to the tax code.

The company will pay a $25 million fine to atone for improper accounting practices at former reinsurance unit.

AssureNET GL 4.1 is designed to provide increased management oversight and reduced costs through higher levels of automation.

The financial services meltdown may pressure a new congress and new administration to revamp how the insurance industry is regulated.

The long-gestating proposal lessens collateral requirements for foreign reinsurers.

More than 3,000 members have joined WikonnecT, an Internet-based collaboration network, since the it was launched at the company's Fall Connect conference.

Former CEO of Allianz Life says regulators barked up the wrong tree: The objective of regulations should be aimed at “protecting the insurance companies from themselves.”

Seward says association will fight push for federal regulation of insurance.

The new product helps securities broker/dealers follow required procedures once they become aware of a complaint.

TowerGroup expects "four Rs"—risk, revenue, regulation and retirement—to shape the insurance industry in 2009.

Rules passed in the wake of the financial services meltdown will likely require insurers to exhibit better control of their processes.

Regulations are imperiled as European Union members spar over changes that could weaken capitol requirements.

Hosted by NAVA, the seminar will offer a variety of educational offerings and guidance, including a panel of independent broker-dealers discussing their firms’ plans to roll out STP programs.

NAMIC says small insurance companies at risk unless plan is reformed.

Minneapolis – Under a new presidential administration, successful financial services and insurance organizations will be those that are not only able to adjust to a changing regulatory landscape, but ones that can also demonstrate they are embracing the letter and the spirit of the law. So say experts at Wolters Kluwer Financial Services, a provider of compliance and operational risk management solutions to financial organizations.

Philadelphia –The legislation and regulations governing the insurance and reinsurance industries that appear directly tied to the financial crisis are causing discussion both in the mainstream press and in smaller markets hoping to involve themselves to a positive end.A story in this morning’s Washington Post described moves by insurance companies to buy savings and loans to get a piece of the $700 bailout pie. Lincoln Financial Group, Genworth Financial and The Hartford Financial Services Group are among several carriers that have recently announced plans to qualify for the government’s $700 rescue funds by purchasing a thrift.

Chicago – The Property Casualty Insurers Association of America (PCI) joined insurance and salvage industry representatives at a meeting last week with the Department of Justice and the American Association of Motor Vehicle Administrators (AAMVA) to discuss proposals regarding insurer and salvage yard reporting of total loss data to the National Motor Vehicle Title Information System (NMVTIS).

Washington — In Congressional testimony today, New York Insurance Superintendent Eric Dinallo edged away from plans to regulate part of the credit default swap market.