Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Texas Windstorm Insurance Issue Added to Special Session
Jun 7 2011 // Texas Gov. Rick Perry has added legislation relating to the operation of the Texas Windstorm Insurance Association as an issue to be addressed during the special session of the Legislature that began on May 31. “It...
Revival of Illinois Workers’ Comp Bill a Tale of Persuasion
Jun 7 2011 // Everyone on the Illinois House floor was watching the vote climb. 56…57… In the waning hours of the legislative session, lawmakers were considering a huge overhaul of the state’s unwieldy workers’...
Nevada Joins Insurance Product Regulation Compact
Jun 7 2011 // Nevada Gov. Brian Sandoval has signed AB23 enacting the Interstate Insurance Product Regulation Commission (IIPRC). With the addition of Nevada, the IIPRC now has 39 states that have joined the compact, representing more...
Will New Legislation Help Florida’s Property Insurance Market?
Jun 7 2011 // Florida hasn’t been hit by a hurricane since the disastrous years of 2004 and 2005, but the state’s property insurance companies say they are still losing money despite collecting billions in premiums. That has...
Need for Global Insurance Standards Driven by Financial Crisis, Solvency II
Jun 7 2011 // While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect not only the EU, but...
Calif. State Fund Seeks to Offer Workers’ Comp in Other States
Jun 6 2011 // California State Compensation Insurance Fund is pursuing legislation to allow it to offer coverage to California employers who have out of state employees. Currently, California-based businesses insured with State fund...
Supreme Court Rules in Halliburton Case
Jun 6 2011 // Halliburton Co. suffered a legal setback Monday when the U.S. Supreme Court refused to make it harder for shareholders to proceed with some class-action securities-fraud lawsuits against publicly traded companies. The...
Agents Warn of Insurance Complications for NYC Contractors
Jun 6 2011 // Insurance agents are warning contractors in New York City that they may not be able to obtain increased coverage requirements called for by city regulations set to go into effect next week. Many of those new coverages are...
Tennessee Approves Cap on Lawsuit Damages
Jun 6 2011 // Tennessee lawmakers have given final approval to a plan to cap non-economic and economic lawsuit damages. The bill (HB 2008) places a cap of $750,000 on non-economic damages such as pain and emotional suffering and a...
Montana State Fund Cuts Rates 20%
Jun 6 2011 // As predicted by Montana Commissioner of Securities and Insurance Monica Lindeen, the board of Montana State Fund, the state’s largest workers’ compensation insurer, has cut its rates by 20 percent. The move is...
Consolidation Concerns
Jun 6 2011 // The big state agency that oversees insurance producers in New York will soon become a whole lot bigger – and that’s left a lot of agents in the Empire State wondering just how it will affect them. Later this...
No Satisfaction
Jun 6 2011 // Back in 1969 when the Rolling Stones sang, “You can’t always get what you want,” I doubt they were thinking about Florida insurance politics in 2011. I will go out on a limb here and say I am absolutely...
Florida Judge: Insurance Covers Chinese Drywall Claims
Jun 6 2011 // A Florida judge has ruled that a couple’s damage from tainted Chinese drywall is covered by their homeowner insurance policy. Hillsborough County Circuit Judge Robert Foster said he found no exclusion in the Teachers...
What’s In Florida’s Property Insurance Cost Control Bill?
Jun 6 2011 // Florida Gov. Rick Scott signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. Scott said the bill (SB 408) “strengthens...
How Florida’s Agents Fared in Tallahassee
Jun 6 2011 // FAIA President Jeff Grady on Property Insurance Reform, Effects of RMS Model, Citizens For those in the industry, Florida’s recent legislative session was a long march as they tried to navigate through a process that...
What Killed PIP and Citizens Reform?
Jun 6 2011 // P/C Industry Wins Some, Loses Some in Scott’s First Session It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play to the last 72 hours. No matter how many...
New York Agents Appealing Compensation Disclosure Ruling
Jun 6 2011 // The Independent Insurance Agents & Brokers of New York (IIABNY) says it is moving forward with a legal appeal of a court ruling that allowed the state to require agents to reveal their commissions to clients. The...
Florida Braces as RMS Model Makes Landfall
Jun 6 2011 // Storm Model Hits Inland Territories; Could Alter Property Insurance Political Landscape Florida’s history with hurricanes has created a series of assumptions long treated as facts, none of which is more quoted than...
Living with Solvency II; A Top Regulator Gives His Views
Jun 3 2011 // Solvency II, the European Union’s imminent imposition of new and more sophisticated risk based regulation of its insurers, may not be the only elephant in the room It is, however the main focus of a great deal of...
North Carolina House Backs Liability Protections for Drug Makers
Jun 3 2011 // The North Carolina House has voted to give pharmaceutical companies sweeping product liability protections as part of a larger Republican effort to limit liability for North Carolina businesses. The proposed legislation...
