Legislation that would create a federal reinsurance backstop for states with catastrophe insurance funds drew both support and severe criticism at a House hearing.

Guaranty fund trade groups have written Senate Banking Committee members urging them to exclude insurance companies from any legislation creating a separate authority to regulate large financial institutions.

The Obama administration, moving again to put the spotlight on health insurers, asked five large carriers to publicly disclose their justification for large rate increases.

Legislation will be introduced in the House allowing risk retention groups to sell commercial property insurance, according to an industry source.

The head of America's Health Insurance Plans said at a conference here that Congress and the Obama administration should stop excoriating carriers and focus on solving health care legislation problems.

Guidance from the Federal Emergency Management Agency regarding the lapse in the National Flood Insurance Program on Monday and Tuesday was revised late yesterday by the agency.

President Obama hopes to get his health care reform bill through the House by March 18, his advisers said yesterday.

President Obama renewed his attack on health insurers today as he sought to give political cover to House Democrats as they prepared for a tough vote on new health care reform legislation.