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AIG seeks bonus returns, warns legislators of negative impact
American International Group has asked those receiving $165 million in retention bonuses to return half if not all of the money, but fears the effects, according to company CEO Edward Liddy. Edward...
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PCI supports exclusion of wind coverage from national flood insurance
The head of the Property Casualty Insurers Association of America said the group supports the Obama Administration’s stance on omitting wind coverage from the National Flood Insurance Program....
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Insurance companies pump $35.7 billion into congressional coffers
Insurance companies, including auto, home, business and life insurers, contributed more than $35.7 million to members of Congress over the last two election cycles, with an emphasis on those involved...
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National Flood Insurance Program extension eyed in Congress
Congress is weighing another extension to the National Flood Insurance Program, which is set to expire Sept. 30. Maxine Waters U.S. House Financial Services Housing Subcommittee Chairwoman Maxine...
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House vote to extend National Flood Insurance Program draws praise
Calling its extension “a temporary fix,” the Independent Insurance Agents & Brokers of America is nonetheless commending the House for voting to extend the National Flood Insurance Program. Maxine...
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Insurance industry emotions mixed about Senate financial reform plan
Senate Democrats have unveiled a comprehensive financial reform bill, calling for “responsibility and accountability” in the financial sector through several provisions, including those affecting the...
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State regulators applaud changes to proposed Federal Insurance Office
Still questioning the need for a federal regulator of insurance amid strong state-based oversight, the National Association of Insurance Commissioners is praising lawmakers for amendments to a bill...
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National Flood Insurance Program gets two-month extension in Congress
A long-term solution to the National Flood Insurance Program will have to wait until 2010, after the latest extension by Congress. Courtesy: FEMA Both the House and Senate passed a two-month extension...
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AIA sees regulatory reform as key issue in 2010
Regulatory reform is the top issue in the 2010 Congressional session for the property-casualty industry, according to one trade group. The American Insurance Association sees Congress’ continued work...
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U.S. House proposes NFIP extension through September
UPDATE: View the latest on the NFIP extension. The U.S. House of Representatives is taking a proactive step to approve another short-term extension of the National Flood Insurance Program (NFIP) rather...
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