The House approved under expedited procedures legislation that would extend the National Flood Insurance Program until Sept. 30, 2010.

Regulation of the surplus lines industry will be modernized and substantively streamlined under a provision of financial services reform legislation approved by House-Senate conferees.

The U.S. government is likely to suffer a loss on its investment in American International Group (AIG), Treasury Secretary Timothy Geithner acknowledged Tuesday.

Regulation of the surplus lines industry will be modernized and substantively streamlined under a provision of financial services reform legislation approved by House-Senate conferees.

Final action on the insurance section of financial services reform legislation has been delayed as conferees work through an impasse over a federal insurance office's scope of authority in international matters.

The National Flood Insurance Program will pay claims for damage to homes and contents from oil driven ashore during hurricanes, its officials announced earlier this month.

Proposed legislation denying tax deductions for reinsurance premiums paid to offshore affiliates will likely pass through Congress, a Bermuda executive predicted recently, but he criticized the measure as a restriction of free trade.

Final action on the insurance title of financial services reform legislation has been delayed as conferees debate the scope of preemption authority a federal insurance office would have to preempt state law when negotiating bilateral trade accords.