Compromise legislation proposed by the Obama administration and Rep. Barney Frank would give federal banking regulators broad authority over large, troubled insurers, stirring concern within the property and casualty industry and among state officials.

The chief executive officer of the Property Casualty Insurers Association of America warned his members last week to beware of a "divide and conquer" strategy in Washington when it comes to nailing down regulatory and health care reform.

Florida CFO Alex Sink urged carriers at an industry conference last week to consider entering her state's huge, hurricane-prone homeowners insurance market, pledging to work together with them to craft a less hostile regulatory environment.

The Society of Actuaries announced that S. Michael McLaughlin is the group's new president.