The Department of Health and Human Services last night issued a statement that it will allow great flexibility to employers in applying medical loss ratio (MLR) standards to certain health plans under the health care reform law.

President Obama late Thursday signed into law legislation extending the National Flood Insurance Program until Sept. 30--averting what would have been another shutdown of the program.

The American Insurance Association (AIA) is asking federal health regulators to delay implementation of a rule requiring collection of data relating to product liability claims arising from medical devices.

The Treasury Department is moving quickly to create a Federal Insurance Office (FIO), with existing staff laying the groundwork while the department conducts a public search for a director, deputy Treasury Secretary Neal Wolin told Congress today.

The insurance industry and safety agencies remain divided over whether laws to ban distracted driving are indeed reducing highway accidents and deaths.

Backing out of the terrorism reinsurance business would be a really bad idea for the financial security of private businesses and the health of the overall U.S. economy, p&c industry leaders warned.

The U.S. Senate last week unanimously voted to extend the current National Flood Insurance Program for one year--until Sept. 30, 2011--with industry trade group officials lauding the development and urging the House to also act promptly.

AIG still relies largely on government funding for capital and liquidity, and "most observers" expect that the AIG Investment Program will generate "significant losses" to U.S. taxpayers.