A state legislative group has asked a House committee to drop efforts to impose a "one-size-fits-all" standard on medical liability through federal legislation.

Led by Sen. Mike Johanns, R-Neb, the Senate today passed legislation repealing the much-criticized 1099 reporting provision in the healthcare reform law and sent the bill to President Obama for his signature.

The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.

State insurance regulators delayed for at least four weeks action on a resolution that would support insurance agents' demands for an exemption from the healthcare reform law's medical loss ratio (MLR) provision.

Disclosure that the Federal Reserve Board has subjected MetLife to a “stress test” should put to rest any thoughts that the insurance industry has repulsed intervention by federal regulators into their business, a concern that was raised by the near-failure of American International Group.

In the wake of New York's decision not to join a nationwide compact on sharing of surplus-lines taxes, industry officials believe such compacts may be doomed.

Federal Emergency Management Agency Administrator Craig Fugate told a congressional panel today that the need for subsidies makes it unlikely that the NFIP will ever be able to pay off its debt.

The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.