Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
Florida Cabinet Delays Hurricane Fund Assessments
Mar 7 2010 // The Florida Hurricane Catastrophe Fund needs $710 million to continue to pay claims still coming in from 2005’s Hurricane Wilma but it is going to have to wait to assess policyholders to get those funds. The Florida...
Declarations
Mar 7 2010 // Tallahassee Kaleidoscope “It’s like a kaleidoscope. You think you see (the solution) one minute and the next minute it’s different.” —Rep. Bill Proctor, a St. Augustine Republican, speaking on the...
Large Brokers Freed to Go After Contingent Commissions But Will They?
Mar 7 2010 // The nation’s largest insurance brokers have received the go-ahead to begin accepting contingent commissions again – but two of them say they won’t do it. Officials in New York, Illinois and Connecticut...
S&P Analyzes EU’s Proposed Solvency II Regulations on ‘Hybrid Capital’
Mar 5 2010 // Standard & Poor’s Ratings Services has published updated assumptions for assessing European insurance hybrid capital instruments (see “Assumptions: Implications Of Solvency II Proposals For Our European...
Florida Lawmakers Block Sprinkler Mandate for New Homes
Mar 5 2010 // A Florida House committee wants to extinguish a proposed rule that would require fire sprinklers in many newly constructed homes. The House Governmental Affairs Policy Committee voted unanimously Wednesday for a bill that...
Washington Lawmakers Approve JUA For Flood Insurance
Mar 5 2010 // The Washington State Senate has approved a flood insurance bill that would allow the insurance commissioner to create a market assistance plan and, if necessary, a joint underwriting association if the flood insurance...
Minnesota Lawmakers Hold Distracted Driving Hearing
Mar 4 2010 // Minnesota lawmakers are taking another look at the dangers of distracted driving. House and Senate transportation committees held a joint hearing Wednesday on the risks of things like cell phone dialing, fiddling with GPS...
Foodborne Illnesses Cost U.S. $152 Billion a Year: Study
Mar 4 2010 // Foodborne illnesses cost the United States $152 billion in health-related expenses each year, according to a study released by consumer and public health groups on Wednesday. Food safety advocates are hoping that the study...
National Producer Licensing Reform Bill Passes House
Mar 4 2010 // Federal legislation designed to streamline non-resident insurance agent and broker licensing passed the U.S. House of Representatives. H.R. 2554, the National Association of Registered Agents and Brokers Reform Act of...
Optional Insurance for Oklahoma Lawmakers Approved in House
Mar 3 2010 // The Oklahoma House has passed legislation allowing lawmakers to opt out of the state employees group health and life insurance plans. House members voted 92-4 for the bill and sent it on to the Senate for...
National Flood Insurance Program Temporarily Restored
Mar 3 2010 // The U.S. Senate last night passed legislation that includes an extension of the federal flood insurance program until March 28. President Obama has signed the measure. The extension means that the National Flood Insurance...
Legislation to Ban Texting While Driving Advances in Oklahoma
Mar 1 2010 // A measure in Oklahoma that places limits on texting while driving has passed out of the House Public Safety Committee. The measure would also prohibit young drivers from using a cell phone to talk or text while the vehicle...
American Safety Updates Contractor Coverage to Meet New Lead Paint Rule
Feb 26 2010 // American Safety Insurance (ASI) has updated its contractor pollution liability form to satisfy the exposure created by new regulation from the Environmental Protection Agency requiring any contractors to comply with new...
Nevada Assembly Rejects Insurance Verification Cameras
Feb 26 2010 // Nevada Gov. Jim Gibbons amended his proclamation for the Legislature’s special session to include sweeping reforms to collective bargaining, education, water law — and said lawmakers should be quick about their...
Obama, Republicans Clash at Healthcare Summit
Feb 26 2010 // President Barack Obama and Republicans clashed frequently Thursday at a summit on his stalled healthcare overhaul, battling over the size and cost of the proposal and moving no closer to a compromise agreement. Obama told...
Geneva Association: ‘No Systemic Risk from Insurance Core Activities’
Feb 26 2010 // A newly published report from the Geneva Association, which analyzes the role played by “insurance in financial stability and its systemic relevance,” has concluded “that the core activities of insurers...
Florida Cabinet Delays Hurricane Fund Assessments
Feb 25 2010 // The Florida Hurricane Catastrophe Fund needs $710 million to continue to pay claims still coming in from 2005’s Hurricane Wilma but it is going to have to wait to assess policyholders to get those funds. The Florida...
Florida Recruits First Reinsurer Under Relaxed Collateral Rules
Feb 25 2010 // Florida insurance officials have reached an agreement with the first foreign reinsurer to operate under collateral requirements that were reduced in 2008 in an attempt to attract new reinsurers to the state. The Florida...
Federal Rate Regulation Threatens Solvency, Health Insurers Warn
Feb 24 2010 // President Obama’s latest push for a health care overhaul could drive health plans around the country into insolvency, according to an insurance trade group. A plan released Monday by the White House would give the...
Judge Certifies Stockholders’ Class Action Against AIG
Feb 23 2010 // A U.S. judge on Monday certified a class action lawsuit for stockholders, but not bondholders, against American International Group Inc. U.S. District Judge Deborah Batts denied a request by three Ohio state public pension...
