State regulators have told Congress the Treasury's assessment of how American International Group holding company problems could have impacted AIG's ability to pay insurance claims is wrong.

Obama administration officials denied that American International Group had "outmaneuvered" them on bonus payment issues, and said if a proposed tax on large banks is enacted, it will ensure the bonus payments are recouped.

Insurance trade groups are asking the House to reject proposed legislation that would end the antitrust exemption afforded health and medical malpractice insurers by the McCarran-Ferguson Act.

Insurance trade groups are asking the House to reject proposed legislation that would end the antitrust exemption afforded health and medical malpractice insurers by the McCarran-Ferguson Act.

President Obama has proposed a budget for 2011 that reopens the volatile issue of taxing offshore insurers, especially those based in Bermuda.

Insurance industry representatives said President Obama's new effort to tax insurers who cede premiums to overseas affiliates is far tougher than previous proposals aimed at low-tax offshore havens.

Had the U.S. government not taken action to bail out AIG, it would have proven to be an economic catastrophe for the nation, said Treasury Secretary Timothy Geithner and his predecessor, Henry Paulson.

President Obama has proposed a budget for 2011 that reopens the volatile issue of taxing offshore insurers, especially those based in Bermuda.