Risking the ire of his base, New York City Mayor Michael Bloomberg told a D.C. audience that deficit reduction plans should include treating hedge fund partners’ carried interest as ordinary income.
While Big Ag looks to hijack the Super Committee process, a new report proposes $80 billion could be saved by scrapping the crop program’s “revenue insurance” model.
Auto insurance will be one of the key issues that Michigan legislators will face in the upcoming legislative session. Michigan’s unique auto insurance system provides limitless coverage for injuries that occur during auto accidents, but also has created a system plagued by high rates and fraud. In a new article published in the Detroit News, [...]
Tax breaks and loopholes in the US tax code are a frequent debate point for both Republicans and Democrats, but are legislators truly seeking to close these tax breaks when many of them are adding even more, including President Obama himself? In a new article by Paige Winfield Cunningham in the Washington Times, Paige argues [...]
Meanwhile, a new report from Florida TaxWatch concurs that reform of Florida’s property insurance system must go beyond fixes to the cat fund to include changes to Citizens, the guaranty fund and the private market.
Fitch Ratings believes the European Union’s Solvency II project ultimately will grant equivalent treatment to U.S. insurers and reinsurers.
Evidence suggests staged accidents and other forms of fraud are factors driving the explosion of costs in Florida’s personal injury protection auto insurance market.
The NAIC says it will make $19 million next year selling insurance data filed by companies with state regulators. The Federal Insurance Office should bring this crony regulatory monopoly to an end by making all statutory filings publicly available.
MetLife’s announcement that it has been ordered by the Federal Reserve not to increase its shareholder dividend until it completes the 2012 round of stress tests could be a harbinger of things to come, should other insurers be designated “systemically important financial institutions.”