Sen. Charles Grassley, R-Iowa, ranking minority member of the Senate Finance Committee, has asked officials to detail how an American International Group executive who resigned is entitled to a multimillion-dollar severance agreement.

Treasury Secretary Timothy Geithner has been scheduled to testify before a House committee concerning controversial dealings between the Federal Reserve Bank of New York and American International Insurance.

Eighteen Democratic senators have written congressional leaders and the White House urging that the final health care reform bill draft include language repealing the antitrust exemption afforded health and medical liability insurers.

Insurance companies with finance arms and $50 billion in assets would be subject to a federal tax on liabilities under a proposal unveiled today by the Obama administration.

A House government oversight panel ordered the Federal Reserve Bank of New York to produce documents related to its role in American International Group's failure to disclose details of the decision to pay AIG trading partners in full.

Democratic members of the Texas House delegation yesterday asked their negotiators on health care reform legislation to require a "single, national health insurance exchange" in final legislation--which is opposed by agent trade groups.

Insurance agents and brokers should focus on the medical loss ratio benchmark set for carriers in health care reform legislation because that will determine their future commissions.

Lapse of the estate tax as of Jan. 1 has many insurance agencies concerned with inheritance issues, according to one major producer association.