The American Bankers Association is calling for "wholesale" overhaul of the National Flood Insurance Program (NFIP), including providing incentives for the private market to assume a greater role.

The Department of Health and Human Services is being criticized for allegedly interfering with National Association of Insurance Commissioners' deliberations on

Rep. Michele Bachmann, R-Minn., plans to introduce legislation repealing the Dodd-Frank financial services law, calling it "misguided" and a "blatant abuse of power."

The American Bankers Association is calling for "wholesale" overhaul of the National Flood Insurance Program, including providing incentives for the private market to assume a greater role.

Regulatory initiatives dealing with implementation of the financial services reform law, and such old business as providing certainty to the NFIP will keep p&c insurance industry lobbyists extremely busy this year.

Passage of landmark health care reform legislation last March is forcing participants in the insurance industry, especially agents, to mobilize in efforts to secure changes to the legislation that ensure they have a role in the industry going forward.

The National Association of Mutual Insurance Companies is urging the Obama administration to reform--but not privatize--the National Flood Insurance Program.

Proposed changes in U.S. accounting standards aimed at bringing them in line with those used by European firms would "radically transform" the accounting methodology used by property and casualty and life insurers.