A group of nine property and casualty industry trade groups today charged that legislation proposed in Congress, to end the exemption under antitrust laws for healthcare insurers, had a hidden agenda.

The chairman of the Commodities Futures Trading Commission today cited American International Group as the poster child for the need for strong regulation of the over-the-counter derivatives market.

The property and casualty insurance industry in general supports creating a Federal Office of Insurance, according to testimony yesterday before Congress, but some trade groups are at odds on its scope.

The chairman of a key House Financial Services panel last night unveiled draft legislation creating a federal insurance regulatory office that tracks with minor omissions legislation submitted to Congress by the Obama administration.

Health care reform legislation that the insurance industry can support took a giant step forward last week when the U.S. Senate Finance Committee rejected two amendments that would create a "public option" to compete with private carriers.

Rating agencies betrayed not only the public trust "but also their special status under our laws," the chair of a House Financial Services Subcommittee charged last week.

The U.S. Senate passed legislation last week extending the controversial NFIP until Oct. 31 while talks continue on a more permanent reauthorization.

The chairman of a key House Financial Services panel last night unveiled draft legislation creating a federal insurance regulatory office that tracks with minor omissions legislation submitted to Congress by the Obama administration.