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The property and casualty insurance industry is sending a letter to members of the House urging them to reject a flood-insurance bill amendment that would phase out the program as of January.

While title insurers’ profitability improved in 2010 compared to 2009, Fitch Ratings says it will not change the industry outlook to stable until evidence points to sustainable profitability for the sector.

The American Bankers Association is calling for "wholesale" overhaul of the National Flood Insurance Program (NFIP), including providing incentives for the private market to assume a greater role.

The American Bankers Association is calling for "wholesale" overhaul of the National Flood Insurance Program, including providing incentives for the private market to assume a greater role.

In the process of reforming the financial markets, Congress was unable to generate a solution that is more than a patch for the holes in the existing flawed model.

The U.S. Senate last week unanimously voted to extend the current National Flood Insurance Program for one year--until Sept. 30, 2011--with industry trade group officials lauding the development and urging the House to also act promptly.

The Senate last night passed, by unanimous consent, legislation extending the current National Flood Insurance Program until Sept. 30, 2011.