Regulation/Legislation

The Treasury Department's authority to preempt inconsistent state laws when concluding bilateral insurance trade agreements with foreign countries will be considerably watered down in final financial services reform legislation.

The House approved under expedited procedures legislation that would extend the National Flood Insurance Program until Sept. 30, 2010.

The nation's crop insurers warned that the industry's "back is against the wall" as they reiterated objections to a planned 30 percent cut to the federal crop program.

A group of domestic insurers has responded to a YouTube video opposing an offshore insurer tax increase with its own video in support of the measure.

Barclays President Robert Diamond Jr. had some strong opinions on reforming financial services regulation at the annual Lloyd's New York City dinner. For a recap, see NU Editor Sam Friedman's blog at www.NUSamSoapBox.com.

The Florida Surplus Lines Service Office has issued a bulletin outlining its new requirements for policy transactions associated with Lloyd's of London.