Financial firms could be forced to bail out Florida's troubled property insurer of last resort under an amendment proposed for House financial services reform legislation, according to one analysis,

Major insurance trade groups are asking the Senate Banking Committee not to require large financial institutions to prefund a systemic risk resolution fund as part of financial services reform legislation.

If the 1908 asteroid explosion that hit Siberia were to occur above Manhattan today, it would cause more than a trillion dollars in property loss and 3.2 million deaths, according to a catastrophe modeling firm.