Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Florida Governor Signs Commercial, Professional Lines Deregulation Bill
Jun 2 2010 // Florida Gov. Charlie Crist has signed into law a bill exempting certain commercial and professional liability insurance rates from state review prior to use. Current state law exempts only those policies with annual...
Florida Gov. Crist Vetoes Property Insurance Bill
Jun 1 2010 // As he hinted he would do, Florida Gov. Charlie Crist has vetoed an omnibus property insurance bill (SB2044) that the industry and even the state’s insurance commissioner had urged him to sign. Crist, who was elected...
Judge Rejects Fraud Charge, Says Rating Agencies Not Underwriters
Jun 1 2010 // A Manhattan federal judge said on Tuesday that it was unfair to hold Moody’s Investors Service and Standard & Poor’s liable as “underwriters” on securities offerings needing their ratings, as he...
Oklahoma Workers’ Comp System Reform Legislation Advances
May 28 2010 // Legislation designed to improve Oklahoma’s workers’ compensation system for injured workers and reduce costs for the state’s employers has passed the House of Representatives. The four bills comprise a...
Massachusetts AG Wants New Regulations for Insurers, Agents
May 28 2010 // Massachusetts Attorney General Martha Coakley is proposing new regulations that she says will rein in sales and underwriting practices for auto insurers and agents in the state. The regulations come in response to a report...
Flood Insurance Program to Expire Again May 31
May 28 2010 // For the fourth time in the past year, the nation’s flood insurance program will lapse because Congress has not voted to reauthorize it. That’s the latest on Capitol Hill, according to property/casualty...
Legislation to Impound Uninsured Vehicles Advances in Oklahoma
May 28 2010 // Legislation that would allow law enforcement in Oklahoma to impound uninsured vehicles is one step away from becoming law. House Bill 2331, by state Rep. Steve Martin and state Sen. Gary Stanislawski, passed the Oklahoma...
Justice Department Defends Retroactive Liability Limit on BP
May 26 2010 // The U.S. Justice Department said Tuesday that Congress could retroactively impose a higher liability cap on BP Plc to pay for the damage from its growing oil spill, and the company would likely lose if it challenged the...
Trade Groups Sue New York over Pay Rules
May 26 2010 // Two trade groups for New York insurance agents are suing the state’s insurance regulator over new rules that will force them to reveal to clients how much they are paid for a particular transaction. The Independent...
MGAs Called Critical to Florida’s Property Insurance Market
May 25 2010 // Several of Florida’s insurers with affiliated managing general agencies (MGAs) have come in for criticism recently but there is no widespread problem with the MGA model, regulators and insurance industry executives...
CEO Defends Massey Over West Virginia Mine Safety
May 24 2010 // The embattled head of Massey Energy Co. went on the defensive Thursday as he faced angry lawmakers who claim the company’s indifference toward safety led to the nation’s worst mining disaster in 40...
Judge Nixes Union Lawsuit Over Massey Mine Probe Interviews
May 24 2010 // A judge in West Virginia has dismissed a lawsuit over the federal Mine Safety and Health Administration’s plan to privately interview witnesses to the nation’s worst coal mining disaster in 40 years. U.S....
Iowa Supreme Court Rules Property Owners Can Sue State Over Floods
May 24 2010 // Residents and businesses in a northeast Iowa town can sue the state for flood damage caused by a highway project, the Iowa Supreme Court ruled last Friday. The court overturned district court and appeals court decisions...
Willis’ Plumeri Urges UK Government to Spur Insurance Industry Growth
May 21 2010 // Joe Plumeri, Chairman and CEO of Willis Group Holdings, “told an audience of insurance executives that the new UK Government must address the struggling economy to spur growth in the British insurance industry, while...
Senate Approves Financial Reform Bill
May 21 2010 // The U.S. Senate approved a sweeping Wall Street reform bill Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s. By a vote of 59-39, the Senate approved S. 3217,...
Lack of Demand for Innovation Helps Insurers Avoid Systemic Risk: Report
May 21 2010 // The 2008 financial failure and system breakdown of American International Group Financial Products did not contribute to broader systemic effects within the insurance industry, according to a new financial services think...
Commercial Market to Remain Stable, Challenging for Risk Managers: Marsh
May 20 2010 // Despite the global economic crisis, the commercial insurance market is poised to remain stable through 2010, but new challenges are emerging for risk managers, according to a report issued by insurance broker Marsh. The...
Fairfax Receives Regulatory Approval for Zenith Acquisition
May 20 2010 // Toronto-based Fairfax Financial Holdings Limited and California-based Zenith National Insurance Corp. announced that Fairfax has received approval from the California Department of Insurance for the acquisition by Fairfax...
Judge Dismisses Ore. Workplace Meetings Lawsuit
May 19 2010 // A federal judge has dismissed a challenge to the new Oregon workplace meetings law which prohibits employers from firing workers who refuse to attend meetings to discuss politics, religion or union organizing. U.S....
Louisiana Lawmakers, Administration Spar Over Recovery Money
May 18 2010 // After the devastating back-to-back blows of hurricanes Katrina and Rita, Louisiana’s leaders created a far-reaching state bureaucracy to manage and devise multibillion dollar recovery plans for wrecked southern...
