Insurers with assets of more than $50 billion would not be subject to the pre-funding provisions of the resolution authority that would be created in Senate financial services reform legislation to deal with firms posing a systemic risk to the economy.

Reacting to the health care legislation passed by the House, insurance and employer groups voiced deep concerns over what they see as a lack of provisions designed to reduce costs.

Ten large property and casualty insurers today asked leadership of the Senate Banking Committee to exempt the industry from federal oversight in financial services reform legislation that will be marked up starting Monday.

Insurance representatives said they may get a deal for Senate financial services reform legislation with no financial assessments and little regulatory impact for high-asset insurers.

A Congressional Budget Office study reported that the health care reform legislation the House is expected to vote on by Sunday would cost $940 billion over 10 years.

House Democrats have picked up two key votes needed to push health care reform legislation through Congress.

Angry over Senate tax law proposals, the House is holding up action on a Senate measure that would extend the National Flood Insurance Program through the end of the year.

The Hartford has announced that it plans to repay the $3.4 billion it borrowed from the Treasury last year under the Troubled Asset Relief Program.