Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Ark. Deputy Commissioner Named Outstanding CPA in Government
Apr 4 2011 // State Insurance Commissioner Jay Bradford announced that Mel Anderson, the deputy commissioner for Financial Regulation at the Arkansas Insurance Department, has been selected by the Arkansas Society of Certified Public...
Maryland Weighs Prohibition on Insurers’ Use of Credit Scores
Apr 4 2011 // Maryland lawmakers are weighing whether to prohibit insurers from using credit scores to rate auto insurance policies — a move insurers say is a bad idea. The economic matters committee of the House of Delegates recently...
Vermont Lawmakers Ask for Study on Medical Malpractice Claims
Apr 4 2011 // Vermont lawmakers may ask the Shumlin administration to produce recommendations for reforming the medical malpractice system in the state with an eye toward lowering health care costs. The issue of medical malpractice...
Government Ends Cargo Insurance Rule for Truckers
Apr 4 2011 // The federal government is no longer requiring that about 76,000 of the nation’s for-hire truckers carry cargo liability insurance. Over the objections of shippers and transportation brokers, the Federal Motor Carrier...
Declarations
Apr 4 2011 // Dangerous Dams “Failure of one of these dams could result in loss of life or significant property damage.” —Peter Richardson, senior vice president of the Boston Society for Civil Engineers, commenting on...
North Carolina Rethinks Rate Regulation
Apr 4 2011 // Frustrated by rising home insurance rates, some North Carolina residents want a greater role in the rate approval process and state lawmakers are looking to give it to them. The North Carolina Insurance Committee is...
Calif. Senators Introduce National Earthquake Legislation
Apr 4 2011 // U.S. Sens. Dianne Feinstein and Barbara Boxer, both D-Calif., introduced legislation to lower the cost of earthquake insurance for Californians and individuals who purchase coverage from a nonprofit, state-run...
New York Dilutes Plan to Merge Banking and Insurance Departments
Apr 4 2011 // The merger of New York state’s banking and insurance departments might not create the powerful agency first advertised, according to Governor Andrew Cuomo’s recent budget deal with legislative leaders. At first...
NRRA Compliance Checklist: Prepare Now for Surplus Line Tax Changes and Enjoy Your Summer Vacation
Apr 4 2011 // Editor’s Note: This is the first of a two-part article on compliance with the Nonadmitted and Reinsurance Reform Act. The Nonadmitted and Reinsurance Reform Act (NRRA), Subtitle B, Part I, Dodd-Frank Wall Street...
Declarations
Apr 4 2011 // Moved Over a Line “This is going to be a capital event, as well as an earnings event. We’ve moved over a line now. Before we were exhausting the natural catastrophe budget. Now we are probably going to...
Florida Homeowners Insurers Seek ‘Flex-Rating’ Up to 15%
Apr 4 2011 // Florida lawmakers are considering giving homeowners insurers more flexibility to raise rates. The Florida Senate and Banking Insurance Committee recently approved a bill that would allow insurers to raise their rates up to...
Lawsuit Reform Measures Advance in Oklahoma House, Senate
Apr 4 2011 // Legislation in Oklahoma aimed at eliminating joint and several liability, requiring that juries be provided with information on the tax impact of potential awards, and capping noneconomic damages in lawsuits have advanced...
Pennsylvania Considers Workers’ Comp for Small Business Owners
Apr 4 2011 // Agents in Pennsylvania are urging lawmakers to pass legislation that would allow insurers to cover owners or partners of small businesses through a workers’ compensation policy. The legislation changes insurance laws...
Connecticut Lawmakers Approve Local Lawsuit Protection Bill
Apr 4 2011 // A proposal to protect Connecticut cities and towns from lawsuits over injuries on lands owned by municipal authorities has passed a key legislative committee. The Planning and Development Committee recently to approved a...
Montana Workers’ Comp Claims Decrease 5%
Apr 1 2011 // Montana workers’ compensation claims have decreased by more than 5 percent in the past year, state Insurance Commissioner Monica J. Lindeen announced. The National Council on Compensation Insurance (NCCI) recently...
South Carolina Moves Forward with Construction Defect Bill
Apr 1 2011 // Insurers in South Carolina may find themselves on the losing side over a battle to prevent construction defects from being covered under a general commercial liability (CGL) policy. The South Carolina Senate has approved a...
Florida Lawmakers Advance Plan to Shrink State Insurer Citizens
Apr 1 2011 // Florida lawmakers have approved a plan designed to move more property owners into the private insurance market by restricting what properties the state-backed insurer can cover and allowing it to raise its rates. By a vote...
Lloyd’s Director Luke Savage on 2010 Results, Japan, What’s Ahead
Apr 1 2011 // His voice was a little husky, but Luke Savage – Lloyd’s Director of Finance, Risk Management and Operations – was still pleased to talk to the IJ about Lloyd’s financial results for 2010, which were...
Calif. Bill Would Give Insurance Commissioner Stronger Penalty Powers
Apr 1 2011 // California Sen. Noreen Evans, D-District 2, has introduced legislation to grant explicit authority to the state Insurance Commissioner to order restitution as part of an administrative enforcement action against an...
Health Overhaul Insurance Bill Advances in Arkansas
Apr 1 2011 // Arkansas lawmakers moved ahead on a plan to enable the state insurance department to create a framework for a health insurance exchange, which backers said would allow Arkansas to retain control of a network that...
