The FIO has initiated a study of auto-insurance availability and affordability. One comment letter comparing consumer spending on luxuries to spending on insurance drew a sharp response from a major consumer group.

The Senate last night shoved through in virtually unprecedented fashion legislation that would clarify that the Federal Reserve Board can apply insurance-based capital standards to the insurance portion of any insurance holding company it oversees.

The P&C industry lauded the Senate Banking Committee for reporting out a TRIA extension Tuesday, but caution remains a byword because it is not certain when Congress will ultimately act, and whether final legislation will provide the same federal support as current law.

Efforts are now underway to push legislation through the Senate on an expedited basis that would clarify that the Federal Reserve Board can apply insurance-based capital standards to the insurance portion of any insurance holding company it oversees.

The Senate Banking Committee today reported to the floor legislation that would extend the Terrorism Risk Insurance Act for seven years.

Tom Sullivan, former Connecticut insurance commissioner, has been named senior advisor for insurance to the Board of Governors of the Federal Reserve System.

Write-Your-Own insurance companies will be helping the Federal Emergency Management Agency provide refunds to National Flood Insurance Program customers whose rate hikes were reversed or reduced under March legislation rolling back the 2012 Biggert-Waters Act.

The rubber will hit the road for the insurance industry on reauthorization of the Terrorism Risk Insurance Act Tuesday when the Senate takes up legislation that would reauthorize the program for seven years.