Insurance industry officials say they are encouraged by the Senate Banking Committee's leadership that work is progressing on bipartisan financial services reform legislation, and the committee hopes to resolve remaining issues before January.

In a historic Christmas Eve vote, the Senate passed healthcare reform legislation setting the stage for intense negotiations between the House and Senate, but insurance industry officials feel there is much to be concerned about.

The insurance industry continues to voice concerns that healthcare legislation likely to be enacted in the first quarter of 2010 will drive up healthcare costs significantly in the private market.

AIG is apparently retreating from spinning-off its Chartis property and casualty insurance group as a separate entity, while the Treasury's special master has allowed one company employee a raise.

Despite deep divisions within its own ranks and united opposition from Republicans, Democrats appeared to be moving closer and closer at year's-end to landmark legislation reforming the nation's health care system.

Reinsurance and excess and surplus lines purchases would be governed by the tax policies, licensing and other requirements of the buyer's home state...

A trade group representing medical liability insurers is voicing concern over a provision in the Senate healthcare reform bill that would encourage states to create tort reform programs, but allows participants to "opt-out" of the process.

Legislation extending the National Flood Insurance Program until Feb. 28 has passed Congress on an 88-10 vote.