President Obama's proposal for a federal agency to regulate health insurance rates will in practice apply only in states where the regulators lack full rate review authority, state insurance regulators said.

Warren E. Buffett, chairman and chief executive officer of Berkshire Hathaway told investors that he goofed and should have listened to the management of GEICO when the company introduced its own credit card.

Reacting to American International Group's agreement to sell its Asian life unit to Prudential, LLC for $35.5 billion, Moody's Investors Service affirmed ratings of two entities and Standard & Poor's placed one on ratings watch.

The Institute for Business & Home Safety has warned that parts of the United States are vulnerable to earthquakes and urged action on creating stronger building codes.