The insurance industry is coalescing around a surplus-lines allocation formula proposed by Kentucky regulators as a means of breaking the impasse over implementation of the new federal surplus-lines reform and modernization law.

The Treasury Department confirmed late Wednesday that the Financial Stability Oversight Council plans to re-proposewith greater detail on the process and frameworkthe principles it will use in designating nonbank financial companies as systemically significant.

The insurance industry is trying to build support for Senate bill provision establishing minimum requirements for state-graduated driver licensing.

Sen. Dick Durbin, D-Ill., is warning that the federal government needs to do more to respond to growing demands for disaster assistance in the wake of "stronger weather events."

After two flood-insurance legislation efforts failed in the Senate, an industry official says a short-term extension will be about all the industry will get before the current National Flood Insurance Program authorization expires Sept. 30.

State insurance regulators and legislators will discuss later this month possible ways of harmonizing rival compacts designed to implement a surplus lines premium tax-sharing mechanism to implement a recent federal reform law.

Industry officials voiced deep concern over the lack of action in the Senate to extend the current version of the National Flood Insurance Program through Dec. 31.

Joel Ario, former Pennsylvania insurance commisioner and head of the federal office that coordinates development of health insurance exchanges, is leaving