Florida Senate Committee Hearings Challenge Carriers on Property Rates ... After the Florida property/casualty rate hearings ended last week, one thing was certain: The Select Committee on Property Insurance Accountability got a taste of what it’s like to be an insurance company and discovered that it isn’t always easy to write business in a storm-prone state....
... As House Subcommittee Holds Homeowner Insurance Hearing Of Its Own Congress is taking a look at the insurance situation in Florida this week. Rep. Melvin Watt, D-NC, said he wants to hear how the insurance industry has responded to natural disasters and how the response can be improved...
Annuity Disclosure Pilot Promotes Uniform Disclosure, Understandable English The Iowa insurance division is participating with two industry trade groups in an initiative to provide more readable and consistent disclosures for fixed and indexed annuity sales. At the same time, the trades are also planning to talk with federal regulators about doing the same thing for variable annuities....
Treasury Readies Plan to Modernize Financial Services Regulation The Treasury Department will soon release its plan to develop “a modernized approach to regulation,” one that is risk-based, globally oriented and flexible in scope, a senior official said last week....
