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WASHINGTON--Congress may act quickly on legislation creating stronger resolution authority oversight for troubled financial institutions deemed "too big to fail."

Recent remarks about the creation of an optional federal charter regulatory system have educed a fractured response from leading insurance associations.

AA&B recently spoke with NCIGF president and CEO Roger Schmelzer about what he sees as the future of the system.

Treasury Secretary Timothy F. Geithner's recent remarks about the creation of an optional federal charter regulatory system have educed a fractured response from leading insurance associations.

A bill introduced in Congress yesterday establishing some federal regulation over the insurance industry has drawn opposition from an insurance agents group while the two major insurers are supporting the move.

As discussions heated up over whether to give Washington broad authority to regulate insurers posing systemic risks to the economy, the controversy cooled somewhat last week over retention bonuses paid to players at AIG's Financial Products unit.

Treasury Secretary Timothy Geithner's cautious statements of support for an optional federal charter for insurers is provoking reactions pro and con from property-casualty insurance company trade groups.

The Obama administration today asked Congress for authority to create a federal regulator with authority to administer large insurance companies.