Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
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...
Obama to Name Gulf Oil Spill Panel; BP Safety Record Faulted
May 18 2010 // President Barack Obama will create a presidential commission to probe the oil spill in the Gulf of Mexico and energy giant BP said Monday it had “turned the corner” in its efforts to contain it. London-based BP...
Missouri to Add Fees, Require Liability Insurance for Wild-Animal Raisers
May 17 2010 // Missouri lawmakers have approved new regulations, including fees and an insurance requirement, for people who raise wild animals such as lions, bears and tigers. Legislation sent to the governor will require anyone...
Calif. Agent, Insurer Groups Discuss Homeowners Replacement Cost Regs
May 17 2010 // To alleviate concerns about homeowner under-insurance, the California Department of Insurance has proposed regulations governing standards and training for estimating replacement value on homeowners’ insurance. CDI...
Declarations
May 17 2010 // Sudden Break-Up “We will not be closing any offices or exiting any markets. While we regret these employees’ decision, our focus continues to be on our clients and ensuring that any transition is...
West Virginia Could Add Second Agency to Police Mine Safety and Enforce Rules
May 17 2010 // West Virginia is mulling a new state agency dedicated to policing dangerous coal mines in response to an explosion that killed 29 men at Massey Energy’s Upper Big Branch mine. The state Board of Coal Mine Health and...
Florida Lawmakers Pass Omnibus Property Insurance Bill
May 17 2010 // On the final day of this legislative session, Florida lawmakers passed omnibus legislation that aims to bring more control over homeowners insurance costs, raises the state’s minimum capital requirements for...
Florida Consumer Advocate Dartland to Crist: Sign Property Insurance Bill
May 14 2010 // The chorus urging Florida Gov. Charlie Crist to sign an omnibus property insurance measure passed by the Legislature is growing. One of the state’s leading consumer advocates, Walter Dartland, of the Consumer...
Florida Insurers Head Into Hurricane Season with Fingers Crossed
May 14 2010 // Florida’s property insurance companies haven’t suffered hurricane losses for nearly five years, but many claim to be losing money even while collecting hefty premiums. It’s a complex paradigm for almost...
Judge: LimeWire Filesharing Violates Copyright
May 14 2010 // The makers of file-sharing software LimeWire are liable to 13 major record companies that accused the service of infringing their music copyrights, a Manhattan federal judge has ruled. In a ruling made public Wednesday,...
