Legislation that effectively kicks down the road efforts to restore solvency to the NFIP was overwhelming approved by the Senate late yesterday and sent to the president for signature.

Legislation that effectively kicks down the road efforts to restore solvency to the NFIP was overwhelming approved by the Senate late yesterday and sent to the president for signature.

Industry representatives made their case to a Senate committee that "bank-centric" rules should not apply to federally regulated insurers, but others warned against providing a "wholesale carve-out" for insurers that could lead to systemically risky behavior.

Industry representatives made their case to a Senate committee that "bank-centric" rules should not apply to federally regulated insurers, but others warned against providing a "wholesale carve-out" for insurers that could lead to systemically risky behavior.

AIG President and CEO Robert Benmosche says the company's board must work hard on finding his successor, as that person will be taking over what is still a "very large, complex company.

AIG President and CEO Robert Benmosche says the company's board must work hard on finding his successor, as that person will be taking over what is still a "very large, complex company.

The Senate is likely this week to pass and send to President Obama legislation revamping the NFIP rate scheme. But any insurance-industry official who thinks this marks the end of the flood insurance rate crisis should think again.

The vote to determine the fate of H.R. 3370 has been postponed until next week after several objections.