Congress is in recess until April 16th, but action on flood insurance front remains quiet despite the fact that the latest extension on the current authorization expires at the end of May.

Spokesmen for insurance-trade groups insist that when all is said and done, officials of the Financial Stability Oversight Council will support insurers view that insurance activities by their very nature do not pose a threat to the stability of the U.S. financial system.

The Federal Reserve Bank of New York Monday asked a federal court in Manhattan to promptly dismiss a lawsuit alleging that the federal government discriminated against American International Group by taking it over rather than loaning it money when it ran into financial problems in September 2008.

The Financial Stability Oversight Council will vote Tuesday on the factors it will use in determining whether an insurer is systemically significant, a regulatory process that has been underway since the fall of 2010.

To the people who cover Washington, we call it chronicling situational immorality. Not since Bush v. Gore have we seen madness that could compare to this weeks Supreme Court debate over the constitutionality of the healthcare reform law.

The benefits of the surplus-lines-modernization law enacted in 2010 are already being felt through greater efficiency in the marketplace and likely lower premiums for customers, according to an official of the National Association of Professional Surplus Lines Offices.

The House took action again today on repealing the McCarran-Ferguson antitrust exemption for health insurers by passing the larger bill to which the repeal amendment was attached.

The Hartford Insurance Group is exiting its life business in order to concentrate on its stronger property and casualty operations.