The conference panel charged with reconciling the House and Senate financial services reform bills will take up the powers of a federal insurance office and surplus lines reform next week on Tuesday.

The U.S. government's decision to bail out American International Group poses an "extraordinary risk to taxpayers," according to a new Congressional Oversight Panel report that questions whether the government will ever get all its money back.

Congress Thursday afternoon launched its effort to reconcile different versions of financial services reform legislation, with the goal of putting a final bill on President Barack Obama's desk before Independence Day.

Proposed tax legislation aimed at offshore reinsurers "will distort the playing field" to the advantage of U.S. insurers and increase costs for consumers, a lobbyist for Bermuda companies said.

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

An industry official will testify before Congress Wednesday that a steep hike in the damage limits from an offshore drilling accident could drive offshore drillers out of U.S. waters.

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

A proposed tax on offshore reinsurers will likely raise costs for crop insurers and could reduce even further the players in that market, a lobbyist for Bermuda insurers warned Monday.