Controversial legislation that would bar foreign-owned insurers from moving their U.S. earnings into tax havens through a reinsurance transaction with an affiliate was introduced late Thursday in the House.

Leadership of the Senate Finance Committee said members are making "progress" drafting bipartisan healthcare reform legislation that the insurance industry can support, but it won't be anytime soon.

Expressly, race-based employment decisions are illegal, the Supreme Court ruled late last month in a closely watched discrimination case brought by white and Hispanic firefighters.

Leadership of the Senate Finance Committee said members are making "progress" drafting bipartisan health care reform legislation that the insurance industry can support, but it won't be anytime soon.

A consumer group representative and a law professor told a Senate panel that they think the federal government should help regulate the insurance industry.

The House has passed legislation extending the National Flood Insurance Program, that was due to expire in two months, until March 31, 2010.

Bipartisan legislation has been introduced in the House that would limit the tax exposure of very small property and casualty insurance companies.

Legislation sent to Congress last week by the Treasury Department, which details an Office of National Insurance that would have strong authority over solvency and international issues, is already dividing the property and casualty industry.