Three members of the government panel appointed to oversee the taxpayers' investment in American International Group have been asked to brief the House Oversight and Government Reform Committee on details of the status of the financially troubled company.

The White House nominee to head the agency that runs the National Flood Insurance Program has told Congress he opposes adding windstorm coverage to the protection NFIP offers.

American International Group Chief Executive Officer Edward Liddy has been asked to testify before a House oversight committee May 6 on what caused the downfall of AIG.

American International Group announced last week it was accelerating the spin-off of its major property-casualty insurance units into a separate company so it can sell off a minority share to the public.

The head of a Senate committee working on health care reform said details of a "public option" proposal utilizing Medicare and Medicaid resources to provide competition to private health insurers' products are still in the works.

A coalition of five producer trade groups representing the life, property-casualty and health insurance industries wrote key members of Congress yesterday urging them not to rush through health care reform.

Allegations that American International Group and other insurance companies are improperly handling injury and death claims of workers employed by war zone contractors have sparked a demand for a congressional probe.

A.M. Best and Standard & Poor's both said there will be no rating changes in the wake of the American International Group decision to spin off its property-casualty subsidiaries into a separate unit that will ultimately become a separate company.