News

Business and personal lines insurers who did not contribute to the financial crisis should not be the target of new consumer protection regulations, an insurance trade group representative told a House committee.

The global recession has demonstrated that insurers' reliance on the capital markets to fund catastrophe risk can put them at financial risk, said the president of the Insurance Information Institute.

As global concern grows over an outbreak of the H1N1 flu, most U.S. companies remain unprepared to realistically deal with an outbreak, a Marsh insurance brokerage executive said.

A government watchdog agency report has hit the Federal Emergency Management Agency for lax oversight of the program that has private insurers write policies for the National Flood Insurance Program.

The House Financial Services Committee chairman committed his panel today to passing legislation giving federal regulators authority to liquidate troubled non-bank financial institutions including insurers.

American International Group has paid back about $62 billion of its $183 billion debt to the government, but whether it can repay the full amount is unclear, a government study said yesterday.