Senator’s bid for standalone NFIP extension through end of year fails

For the second time in two months, a Louisiana senator has lost his bid to extend the National Flood Insurance Program through a standalone bill and not a comprehensive reform package.  Read Story

Report: Heads of AIG’s Financial Products unit escape federal charges

The executives at the top of American International Group’s Financial Products unit – largely seen as responsible for the insurer’s near-collapse – will escape any federal charges, according to media reports.  Read Story

Maryland regulators to study water damage coverage absent mandate

Rather than requiring property-casualty insurers to offer coverage for damage caused by a water main break and other water discharge, the Maryland Insurance Administration will instead study how to best educate consumers.  Read Story

UnitedHealthcare to provide coverage to 13 million restaurant workers

A new alliance with the National Restaurant Association will allow UnitedHealthcare to provide coverage and services to nearly 1 million restaurant owners and 13 million of their employees.  Read Story

W. Va. men plead guilty to charges linked to staged accident scheme

Two West Virginia men have pleaded guilty to their roles in a scheme to scam insurance companies through staged motor vehicle accidents.  Read Story

Today, there are so many products besides disability income insurance that agents can sell, which then creates a consumer’s dilemma in that most American consumers seem to hear when the various carriers of the insurance industry knocks on their door? "Apply for this; no, apply for that. No, not that; this. No, what you really need is this..."etc.! Is it any wonder why working Americans are insurance-poor and may not realize they could be without the type of coverage they really need the most?  Read Story

GG-One Software unveiled Fastrack, a comprehensive package of tools to track insurance certificates and contracts online, through a local area network or a stand-alone desktop.  Read Story

NAIC committee asked to regulate stranger-owned annuities

The chairman of a National Association of Insurance Commissioners (NAIC) committee compared stranger-originated annuity transactions (STATs) to cockroaches, while others suggested the need for tighter regulation of the growing practice.   Read Story

Senate passes reform bill; states retain insurance regulation

The U.S. Senate’s passage of financial services reform May 20 has drawn the praise of two insurance industry trade groups, both pleased to see that senators deemed property-casualty insurance different than other financial service sectors.  Read Story

Judge rules N.J. police, firefighters must help pay for to health care

A New Jersey Superior Court judge has refused to block a plan by Gov. Chris Christie for public employees to start contributing at least 1.5% of their pay toward health insurance.  Read Story