New York City's groundbreaking effort at financial education for the poor, which got off the ground with backing from an insurance charity, is expanding.

American regulators must put into place "better, not simply more" financial services rules and regulators, London insurance market leaders warned.

New federal protections administered by any new federal consumer protection agency would create "a duplicative inefficient system," a property and casualty industry official told the House Financial Services Committee.

Besides the financial market crisis, the top business risks multinational insurers face this year are failures to recognize model shortcomings and possible impacts from sweeping regulatory reforms, a report found.