The Obama administration today reinstated its call for a new tax on offshore insurers, but under a formula greater than that proposed by the administration in past years.

Forty-one signatures have been secured on a letter from senators to the Senate leadership urging prompt action on legislation reauthorizing the National Flood Insurance Program.

The P&C insurance industry is supporting legislation that would alter patent law to allow for the use of parts not made by the manufacturer in repairing damaged vehicles.

The much-awaited Federal Insurance Office (FIO) report on reforming and modernizing state insurance regulation, mandated by Dodd-Frank, likely will not be unveiled until the end of this month or early March.

Starr International and its Chairman and Managing Director Maurice Hank Greenberg have amended a lawsuit against the federal government to claim that the terms of federal aid to AIG starting in 2008 amounted to an attempt to steal the business.

The Federal Reserve Bank of New York today ended one chapter from the American International Group bailout, selling a group of mortgage-backed securities that closed out its Maiden Lane II facility.

Sen. Johnny Isakson, R-Ga., says efforts are underway to attach legislation exempting insurance agents from the medical loss ratio provision of the healthcare reform law to another bill working its way through the Senate.

The insurance and other industries affected by floods are making a big push to get the Senate to act on legislation reauthorizing the National Flood Insurance Program.