Property and casualty insurance trade groups are lauding Senate Democrats' decision to include provisions modernizing and reforming the surplus lines industry in legislation they unveiled for financial services regulatory reform.

The chairman of the Senate Banking Committee unveiled an omnibus financial bill that would require a study of ways to modernize insurance regulation and creation of an Office of National Insurance.

Insurance agents are voicing dismay over health care reform legislation passed by the House late Saturday, and are hopeful that a more acceptable product can be produced by the Senate.

A House panel has passed industry-supported legislation to provide increased post-catastrophe aid for states and municipalities that enact and enforce storm-proof building requirements.

Ten property and casualty and life-health insurance trade groups have written lawmakers opposing a House health care bill provision to permit the Federal Trade Commission to prepare studies and reports on their industry.

Legislation to modify the federal antitrust exemption for health and medical malpractice insurers "will have no significant effect" on premiums charged for private health insurance, the Congressional Budget Office has determined.

The authority of federal regulators to oversee and liquidate large, troubled insurance companies should be significantly pared back in legislation Congress is considering to deal with systemic risk to the economy, industry leaders are arguing.

Insurance agents are voicing dismay over health care reform legislation passed by the House late Saturday, and are hopeful that a more acceptable product can be produced by the Senate.