Regulation/Legislation

The Senate today passed and sent to President Obama legislation that would make the most sweeping changes to financial services regulation since the Great Depression.

Rep. Gene Taylor, D-Miss., today characterized as "absurd" a decision by House officials not to allow a floor vote on an amendment to the National Flood Insurance Program that would add wind coverage to the program.

Domestic and foreign insurers traded barbs--although the foreign insurers did so anonymously--at a congressional hearing today over whether the U.S. should tighten rules dealing with the ceding of premiums to offshore parent companies by U.S. affiliates.

Insurance industry representatives will oppose an expected amendment that would add wind coverage to a bill extending the National Flood Insurance Program for five years

Will the new financial services regulatory reform bill have a positive, negative or no impact on p&c insurers? Go to www.property-casualty.com to cast your vote!

The insurance industry hit the proverbial jackpot with the final version of financial services regulatory reform legislation poised for passage by Congress, says NU Editor Sam Friedman in his blog at www.NUSamSoapBox.com.