Testimony at a recent Senate hearing alleges a lack of consumer protection by state regulators, while one expert says few insurers will be deemed systemically important by the Financial Stability Oversight Council.

A proposed amendment to the National Flood Insurance Program that would split the difference on the sensitive wind-versus-water issue is being criticized as limited in scope and of questionable value to consumers.

Legislation extending the current National Flood Insurance Program for a short period is being drafted by officials of the Senate Banking Committee.

Industry experts discuss the impact on the insurance industry of the Terrorism Risk Insurance Act.

The Thursday decision of the Senate Banking Committee to support the idea of splitting the difference on the wind-v-water issue is setting off a fierce, albeit behind-the-scenes, lobbying campaign within the insurance industry.

Legislation reauthorizing the National Flood Insurance Program until Sept. 30, 2016 was reported to the Senate floor today by the Senate Banking Committee.

The Senate Banking Committee today approved Roy Woodall to be the independent member of the Financial Stability Oversight Council with insurance expertise and sent the nomination to the full Senate for final approval.

A Mississippi senator withdrew his amendment to flood-insurance reauthorization legislation that would have terminated the Terrorism Risk Insurance Act in 2013, a year earlier than authorized in 2007 legislation.