The authority of federal regulators to oversee and liquidate large, troubled insurance companies should be significantly pared back in legislation Congress is considering to deal with systemic risk to the economy, industry leaders are arguing.

The U.S. Senate's vote to continue the National Flood Insurance Program for only 46 days drew fire from an insurance agent group, which warned against playing "Russian roulette" with policyholders.

Producers are feeling the heat in this tough economy, expecting buyers to cut back on coverage, push harder for the best price and go bare in some areas, according to a new Producer Satisfaction Survey.

A.M. Best Co. said concerns about Berkshire Hathaway Inc.'s plans to buy Burlington Northern Santa Fe railroad have led it to put the company's insurance subsidiaries' ratings under review.