Insurance Journal » federal regulation http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Thu, 24 Apr 2014 15:46:12 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Federal Insurance Office Releases Long-Awaited Modernization Report http://www.insurancejournal.com/news/national/2013/12/12/314309.htm Thu, 12 Dec 2013 22:10:41 +0000 http://www.insurancejournal.com/?p=314309 After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United States. In its report, the FIO …

The article Federal Insurance Office Releases Long-Awaited Modernization Report appeared first on Insurance Journal.

]]>
Flood of Regulations Coming from Obama Administration http://www.insurancejournal.com/news/national/2013/12/05/312946.htm Thu, 05 Dec 2013 10:00:23 +0000 http://www.insurancejournal.com/?p=312946 Over the next 12 months, the Obama administration is due to issue regulations governing everything from e-cigarettes to smoke-stack emissions in what experts predict will be a second-term rush to put rules in place before leaving office. “In every administration, …

The article Flood of Regulations Coming from Obama Administration appeared first on Insurance Journal.

]]>
Left and Right Are Both Wrong About Regulation: Viewpoint http://www.insurancejournal.com/news/national/2013/12/05/312791.htm Thu, 05 Dec 2013 10:00:07 +0000 http://www.insurancejournal.com/?p=312791 In 1981, President Ronald Reagan instructed federal agencies that they could issue regulations only after demonstrating that their benefits justified their costs. With modest changes, Reagan’s successors, both Republican and Democratic, have continued to impose this requirement on agencies considering …

The article Left and Right Are Both Wrong About Regulation: Viewpoint appeared first on Insurance Journal.

]]>
Deputy Treasurer Nominee Says Bank Regulations Not Right for Insurers http://www.insurancejournal.com/news/national/2013/11/20/311805.htm Wed, 20 Nov 2013 18:02:16 +0000 http://www.insurancejournal.com/?p=311805 President Barack Obama’s nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same capital rules as banks. “A one-size-fits-all approach is not going to work …

The article Deputy Treasurer Nominee Says Bank Regulations Not Right for Insurers appeared first on Insurance Journal.

]]>
Fed Chair Nominee Yellen Vows to ‘Carefully Consider’ SIFI Rules for Insurers http://www.insurancejournal.com/news/national/2013/11/20/311762.htm Wed, 20 Nov 2013 15:00:44 +0000 http://www.insurancejournal.com/?p=311762 Federal Reserve Vice Chairman Janet Yellen said the central bank will “carefully consider” how to apply new regulatory standards to insurance companies that fall under the central bank’s supervision. The Dodd-Frank Act gives regulators the authority to place insurance companies …

The article Fed Chair Nominee Yellen Vows to ‘Carefully Consider’ SIFI Rules for Insurers appeared first on Insurance Journal.

]]>
U.S. Regulator Unveils New Insurance Fee Guidelines http://www.insurancejournal.com/news/national/2013/11/05/310332.htm Tue, 05 Nov 2013 16:30:11 +0000 http://www.insurancejournal.com/?p=310332 A U.S. housing regulator said on Tuesday that it would ban some fees and commissions that borrowers are compelled to pay when their own home insurance coverage lapses. The Federal Housing Finance Agency said it was aiming to shield homeowners …

The article U.S. Regulator Unveils New Insurance Fee Guidelines appeared first on Insurance Journal.

]]>
Federal Oversight of Financial Markets to Continue During Shutdown http://www.insurancejournal.com/news/national/2013/10/01/306685.htm Tue, 01 Oct 2013 13:27:37 +0000 http://www.insurancejournal.com/?p=306685 U.S. oversight of financial markets and institutions will operate largely as usual in the event of a government shutdown because most regulators are funded with independent revenue. An exception is the Commodity Futures Trading Commission, the top U.S. derivatives overseer, …

The article Federal Oversight of Financial Markets to Continue During Shutdown appeared first on Insurance Journal.

]]>
Federal Government Shutdown Effect on P/C Insurance Industry http://www.insurancejournal.com/news/national/2013/09/30/306597.htm Mon, 30 Sep 2013 15:48:57 +0000 http://www.insurancejournal.com/?p=306597 If Congress fails to agree by midnight tonight on a resolution to continue funding the federal government, the property/casualty insurance industry should not be seriously affected by the resulting shutdown. The insurance industry is not totally immune to the economic …

The article Federal Government Shutdown Effect on P/C Insurance Industry appeared first on Insurance Journal.

]]>
State Insurance Regulators Invoke Jefferson to Limit Federal Role http://www.insurancejournal.com/news/national/2013/09/18/305542.htm Wed, 18 Sep 2013 12:37:04 +0000 http://www.insurancejournal.com/?p=305542 State insurance regulators are drawing on the country’s founding principles as they resist international pressure to give the federal government a greater role in overseeing the industry. Ben Nelson, chief executive officer of the National Association of Insurance Commissioners and …

The article State Insurance Regulators Invoke Jefferson to Limit Federal Role appeared first on Insurance Journal.

]]>
Insurers, State Regulators Try to Block Bank-Like Rules by Federal Reserve http://www.insurancejournal.com/news/national/2013/07/03/297476.htm Wed, 03 Jul 2013 13:46:53 +0000 http://www.insurancejournal.com/?p=297476 MetLife Inc. and Prudential Financial Inc. have been joined by state regulators challenging the Federal Reserve on how to oversee the biggest insurers under the Dodd-Frank law. The insurers and watchdogs are pressuring the Fed to avoid bank-like capital rules …

The article Insurers, State Regulators Try to Block Bank-Like Rules by Federal Reserve appeared first on Insurance Journal.

]]>
Financial Firms Having to Adjust to Aggressive Consumer Protection Bureau http://www.insurancejournal.com/news/national/2012/09/13/262899.htm Thu, 13 Sep 2012 13:00:40 +0000 http://www.insurancejournal.com/?p=262899 The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far. In the 14 months it has …

The article Financial Firms Having to Adjust to Aggressive Consumer Protection Bureau appeared first on Insurance Journal.

]]>
Safety Regulators Recommend Brake Override on All New Cars http://www.insurancejournal.com/news/national/2012/04/13/243208.htm Fri, 13 Apr 2012 09:00:18 +0000 http://www.insurancejournal.com/?p=243208 U.S. auto safety regulators on Thursday announced a proposal that would require brake override systems on all new passenger cars and trucks, likely by the 2015 model year. The U.S. Department of Transportation safety regulation arm in a 98-page proposal …

The article Safety Regulators Recommend Brake Override on All New Cars appeared first on Insurance Journal.

]]>
FTC Wants Voluntary Online ‘Do Not Track’ System http://www.insurancejournal.com/news/national/2012/03/26/240812.htm Mon, 26 Mar 2012 23:37:31 +0000 http://www.insurancejournal.com/?p=240812 U.S. regulators are pressuring Internet companies to put in place by the end of the year a “Do Not Track” system that would give consumers more control over their personal data online, in a report released on Monday that privacy …

The article FTC Wants Voluntary Online ‘Do Not Track’ System appeared first on Insurance Journal.

]]>
Treasury Says More Time Needed to Complete FIO’s Modernization Report http://www.insurancejournal.com/news/national/2012/02/02/233870.htm Thu, 02 Feb 2012 15:24:38 +0000 http://www.insurancejournal.com/?p=233870 The Treasury Department’s Federal Insurance Office was expected to complete and send its highly anticipated report on modernization of insurance regulation to Congress in January. But now, it looks like it may take a while longer. A spokesperson for the …

The article Treasury Says More Time Needed to Complete FIO’s Modernization Report appeared first on Insurance Journal.

]]>
New U.S. Consumer Agency Pledges to Avoid Rule Duplication http://www.insurancejournal.com/news/national/2012/01/24/232397.htm Tue, 24 Jan 2012 13:48:50 +0000 http://www.insurancejournal.com/?p=232397 The new Consumer Financial Protection Bureau said on Monday it would coordinate rulemaking and enforcement with the Federal Trade Commission to avoid duplication. Richard Cordray, the recently appointed director of the CFPB, and FTC Chairman Jon Leibowitz signed a memorandum …

The article New U.S. Consumer Agency Pledges to Avoid Rule Duplication appeared first on Insurance Journal.

]]>
RIMS Tells Treasury: Industry Needs More Uniform, National Regulations http://www.insurancejournal.com/news/national/2011/12/15/227669.htm Thu, 15 Dec 2011 21:33:56 +0000 http://www.insurancejournal.com/?p=227669 A major group for risk management professionals sent a letter to the U.S. Treasury Department, asking for a bigger federal role in regulating insurance. The Risk and Insurance Management Society sent its letter to Michael McRaith, director of U.S. Treasury’s …

The article RIMS Tells Treasury: Industry Needs More Uniform, National Regulations appeared first on Insurance Journal.

]]>
Treasury Names Members of Federal Advisory Committee on Insurance http://www.insurancejournal.com/news/national/2011/11/02/222535.htm Wed, 02 Nov 2011 16:39:54 +0000 http://www.insurancejournal.com/?p=222535 The U.S. Department of the Treasury appointed 15 individuals to serve as members of the Federal Advisory Committee on Insurance. The committee will provide advice to Treasury’s Federal Insurance Office (FIO), which was established as part of the Dodd-Frank Wall …

The article Treasury Names Members of Federal Advisory Committee on Insurance appeared first on Insurance Journal.

]]>
Republican Report Backs Incentives for Corporate Cybersecurity http://www.insurancejournal.com/news/national/2011/10/06/218838.htm Thu, 06 Oct 2011 12:53:14 +0000 http://www.insurancejournal.com/?p=218838 A Republican task force in the House said Congress should give companies incentives to boost their cyber defenses, but that tougher regulation may be warranted to protect critical facilities like power and water plants. Recommendations in the report, which was …

The article Republican Report Backs Incentives for Corporate Cybersecurity appeared first on Insurance Journal.

]]>
U.S. Regulators Define Swaps, What Falls Under Dodd-Frank http://www.insurancejournal.com/news/national/2011/04/27/196476.htm Wed, 27 Apr 2011 18:44:09 +0000 http://www.insurancejournal.com/?p=196476 U.S. futures and securities regulators unveiled a crucial part of their expanded supervision of the swaps market on Wednesday, by defining what products will be covered by last year’s financial oversight legislation. The proposals provided the market some long-awaited clarity. …

The article U.S. Regulators Define Swaps, What Falls Under Dodd-Frank appeared first on Insurance Journal.

]]>
New Product Safety Database Under Scrutiny http://www.insurancejournal.com/news/national/2011/03/01/188443.htm Tue, 01 Mar 2011 14:19:26 +0000 http://www.insurancejournal.com/?p=188443 It’s something Nikki Johns wishes had been around before her infant son died in a drop-side crib: a centralized federal database of people’s safety complaints about thousands of products, from baby gear to household appliances and more. “If I had …

The article New Product Safety Database Under Scrutiny appeared first on Insurance Journal.

]]>
Regulators Warn Against Defunding Dodd-Frank Implementation http://www.insurancejournal.com/news/national/2011/02/18/186871.htm Fri, 18 Feb 2011 13:16:15 +0000 http://www.insurancejournal.com/?p=186871 Republicans escalated their push to delay and defund the Dodd-Frank Wall Street reforms on Thursday as top regulators warned the U.S. Senate Banking Committee of a staff and funding crunch. The chiefs of major agencies that are writing hundreds of …

The article Regulators Warn Against Defunding Dodd-Frank Implementation appeared first on Insurance Journal.

]]>
Invited by GOP, Businesses Vent About EPA, OSHA, Dodd-Frank Rules http://www.insurancejournal.com/news/national/2011/02/11/185774.htm Fri, 11 Feb 2011 14:31:50 +0000 http://www.insurancejournal.com/?p=185774 On issues ranging from the air we breathe to the noise factories make, business leaders want the government to stay out of their way. And the Republicans, looking toward the 2012 elections, are listening. The House’s principal investigative panel, the …

The article Invited by GOP, Businesses Vent About EPA, OSHA, Dodd-Frank Rules appeared first on Insurance Journal.

]]>
Insurers Seek Delay in Financial Rules Until Insurance Posts Filled http://www.insurancejournal.com/news/national/2011/02/09/184116.htm Wed, 09 Feb 2011 18:55:58 +0000 http://www.insurancejournal.com/?p=184116 The insurance industry is asking the Obama Administration to slow down on rules for deciding whether insurers and other nonbank financial companies should be subject to extra scrutiny because they pose a systemic risk to the country’s financial stability. The …

The article Insurers Seek Delay in Financial Rules Until Insurance Posts Filled appeared first on Insurance Journal.

]]>
Agent Group Sounds Alarm Over Federal Insurance Study http://www.insurancejournal.com/news/national/2011/01/19/181053.htm Wed, 19 Jan 2011 18:33:57 +0000 http://www.insurancejournal.com/?p=181053 Congress should refuse to fund a study of insurance regulation that the new Federal Insurance Office is supposed to conduct, an insurance agents’ trade group said. The National Association of Professional Insurance Agents (PIA) also wants Congress to repeal the …

The article Agent Group Sounds Alarm Over Federal Insurance Study appeared first on Insurance Journal.

]]>
President Obama Vows Review of Business Regulations http://www.insurancejournal.com/news/national/2011/01/18/180782.htm Tue, 18 Jan 2011 14:26:11 +0000 http://www.insurancejournal.com/?p=180782 President Barack Obama said on Tuesday he would order a government-wide review of regulations with the goal of eliminating those that hurt job creation and make the U.S. economy less competitive. In an op-ed piece in The Wall Street Journal, …

The article President Obama Vows Review of Business Regulations appeared first on Insurance Journal.

]]>