Legislation to create a Federal Insurance Office should contain language allowing it to preempt state law where it conflicts with some limitedinternational trade agreements, an official said.

Legislation to repeal the antitrust exemption for health and medical malpractice insurers has been modified to include scrutiny of those insurers' practices, an insurance trade group said.

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

The full House is unlikely to debate financial services reform legislation until the first week of December, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said.

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

The authority of federal regulators to oversee and liquidate troubled large insurance companies should be significantly pared back in legislation Congress is considering, insurance interests are arguing.

American International Group was highly critical of a special master's decision to slash payments for its top employees by 91 percent for the remainder of the year.

The Senate's vote to continue the National Flood Insurance Program for only 46 days is drawing criticism from an insurance group.