Roy Woodall’s nomination as the independent member with insurance expertise on the Financial Stability Oversight Council (FSOC) is being welcomed by the insurance industry—but don’t expect him to immediately be able to play a role there.

Two industry-supported bills that would provide federal financial incentives to strengthen homes against major storms were introduced in the House the first week of June.

Consumer advocates are questioning whether the Treasury Department should include an actuary as a member of the proposed Federal Advisory Committee on Insurance, citing a potential conflict of interest, among other concerns.

As Congress works under imminent deadline to deal with the future of the critical National Flood Insurance Program, it is getting conflicting advice as to how it should move to shore up the program, with the Write-Your-Own program getting particular attention.

The Wal-Mart class-action-lawsuit decision by the Supreme Court last week was a likely “strong-blow to the plaintiffs’ class action bar,” according to attorneys at an international law firm.

Sen. Richard Shelby today expressed “confidence” that Congress will be able to enact legislation mandating a long-term reauthorization of the National Flood Insurance Program before the current authorization runs out Sept. 30.

The White House is conducting background checks on S. Roy Woodall, a sign that it is finally moving to fill the slot on the Financial Stability Oversight Council reserved for an independent member with insurance expertise.

Medicare officials clashed today with some members of Congress and industry, legal and consumer representatives over proposed changes to the current system for reimbursing the government for medical payments made by insurance companies.