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Wachovia settles auction-rate securities case with D.C. regulators

Wachovia Securities has finalized a deal with regulators in the District of Columbia on the repurchase of auction-rate securities to settle allegations the firm’s dealers misled investors about the...

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Mid-Atlantic states mull broker compensation rules

As New York works to finalize its own broker compensation disclosure rules, at least three mid-Atlantic states are also investigating the matter. Maryland Insurance Commissioner Ralph S. Tyler told...

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Purcell confirmed as new D.C. insurance commissioner

Gennet Purcell was confirmed as commissioner for the District of Columbia Department of Insurance, Securities and Banking (DISB), following a unanimous vote by the D.C. Council. Gennet Purcell Purcell...

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Former D.C. insurance commissioner joins local law firm

Thomas E. Hampton, the former commissioner of the District of Columbia Department of Insurance, Banking and Securities (DISB), has taken a job about two miles away from his old office. Thomas E....

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D.C. regulators delay decision on CareFirst reserves to ‘later date’

The end of 2009 was supposed to bring a final determination by Washington, D.C.’s insurance regulators on whether the reserves of a CareFirst subsidiary were “unreasonably large,” as defined by law....

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D.C. forms implementation committee for federal health reform

Following the lead of several states across the nation, Washington, D.C., has assembled a group of subject experts, including insurance, to help interpret the impact of the Patient Protection and...

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Decision on CareFirst’s reserves delayed in D.C. again

Washington, D.C., insurance regulators are again delaying a decision on whether the reserves possessed by CareFirst’s District subsidiary, Group Hospitalization and Medical Services Inc., are...

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D.C. regulators say CareFirst’s reserves not ‘unreasonably large’

Federal health reform could force CareFirst to dip deeper into its reserves than had been anticipated with Washington, D.C., officials began investigating its surplus two years ago. Gennet Purcell The...

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D.C. mayor names ‘seasoned insurance’ veteran to commissioner’s post

New Washington, D.C., Mayor Vincent C. Gray named Bill White as his insurance commissioner, replacing Gennet Purcell. White was described by Gray in a statement as “a seasoned insurance and...

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D.C. insurance office’s $13,000 in credit card purchases questioned

The D.C. Office of the Inspector General is investigating the D.C. Department of Insurance, Banking and Securities’ use of department credits cards to purchase $13,000 in electronics and promotional...

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Thomas Hampton abruptly departs as head of D.C. insurance department

The commissioner of the District of Columbia Department of Insurance, Securities and Banking has left office days before a public hearing on a health insurer’s surplus. Thomas E. Hampton The DISB...

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Councilmember: D.C. ‘mayor should explain’ Hampton’s dismissal

A member of the D.C. Council said the dismissal of Thomas E. Hampton as head of the District’s insurance division last week came as a “complete surprise and shock” to him and requires an explanation...

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District regulators delay CareFirst reserve decision until end of year

A little less than a week before it was to decide whether the reserves of a CareFirst subsidiary is “unreasonably large,” Washington, D.C., insurance regulators are delaying their final verdict until...

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D.C. warns insurers not to use domestic violence as factor in policies

The District of Columbia Department of Insurance, Securities and Banking is reminding insurers they are not to use information regarding domestic violence or spousal abuse as a factor in issuing life...

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D.C. right to protect policyholders who are victims of domestic abuse

The District of Columbia’s acting commissioner of insurance, Gennet Purcell, got it right when she warned insurers not to use information about domestic violence in their underwriting decisions,...

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