Crop insurers said late Thursday the industry and the crop insurance program will be able to "withstand" the severe cuts in subsidies imposed on the program by the Agriculture Department.

WASHINGTON--President Obama on Friday morning signed into law an extension of the National Flood Insurance Program until Sept. 30.

Property and casualty insurance trade groups are voicing general support for financial services reform legislation as passed by the House, especially because it preserves state regulation of insurance.

The Senate, last night, extended the long delayed National Flood Insurance Program.

The House took an important step toward reforming financial services industry regulation last night, passing legislation that would for the first time establish a federal office designed to deal with insurance activities.

The Senate, last night, extended the long delayed National Flood Insurance Program, an action that one agent group declared unacceptable due to political wrangling.

Independent insurance agents are blasting a decision by the U.S. Agriculture Department to impose a crop insurance contract on the industry that includes restrictive caps on agent commissions.

The House passed legislation that would for the first time establish a federal office designed to deal with insurance activities.