Legislation aimed at making access to the surplus lines market more efficient and help standardize state insurance regulation has been introduced again in the U.S. House of Representatives. Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., members of the House …
The Obama Administration has come out in opposition to expanding the federal flood insurance program by letting it add coverage for wind damage. The administration said it opposes the expansion because it would further burden the debt-ridden flood program and …
Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but profits and profitability both tumbled as catastrophe losses, …
Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but profits and profitability both tumbled as catastrophe losses, …
Two congressional leaders introduced legislation today that would create a federal regulator for insurance as an alternative to the current state-based regulatory structure currently in plan. Rep. Melissa Bean, D-Ill., and Rep. Ed Royce, R-Calif., introduced their bipartisan insurance regulation …
The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any federal regulatory authority should not replace state regulation of insurance, …
Red River Floods “The magnitude of the expected flooding has not been seen in several years.” The National Weather Service as North Dakotans prepared for spring flooding along the Rd River Basin. Officials in Fargo and Grand Forks began ordering …
Keeping Homes Afloat “PCI applauds Congress for acting to keep the National Flood Insurance Program in place. Allowing the program to expire would have very negative consequences for policyholders and also for the nation’s economy. Most home buyers use federally …
Congress passed a measure extending the National Flood Insurance Program through Sept. 30, 2009, under the omnibus appropriations bill. The NFIP extension was set to expire at 11:59 p.m. on March 6, but Congress passed a continuing resolution to extend …
The U.S. Treasury is expected to propose within days the creation of a “systemic risk regulator,” probably the Federal Reserve, to oversee banking and market problems that could threaten the economy. On both sides of the Atlantic, “tunnel vision” is …
